President Muhammadu Buhari, Monday formally unveiled the Central Bank of Nigeria’s digital currency-eNaira at the State House in Abuja.
With the launch, the e-Naira which was developed by fintech company Bitt, is now available for download.
President Buhari, said the CBN has invested heavily in creating a payment system ranked in the top 10 in the world and the best in Africa, adding that the payment system ultimately serves as the backbone for every electronic payment in Nigeria.
For his part, the CBN Governor, Godwin Emefiele, while listing milestones achieved so far in respect to the eNaira, stated that 33 banks are fully integrated and live on the platform, N500 million has been successfully minted by the CBN, and N200 million issued to financial institutions.
The CBDC’s digital currency App and its merchant wallet are now live and available for download and the two apps, eNaira speed wallet and eNaira merchant wallet, are now available on Google Play store and Apple store.
A notice on the eNaira website gives details into how the currency and the wallet will work.
“Get Ready With Your Accurate BVN Data For Your Hitch-Free Enrolment,” it said.
“To sign-up on the eNaira speed wallet, you would be required to input the following details exactly as captured during your BVN enrollment.
“First Name, Last Name, Date of Birth, State of Origin, and Email.
“Your Banks are waiting to assist you in validating and updating your BVN details to ensure seamless enrolment to the eNaira Platform,” it says.
Meanwhile, the Central Bank has also published the regulatory guidelines of the currency on its website.
“The guideline seeks to provide simplicity in the operation of eNaira, encourage general acceptability and use, promote low cost of transactions, drive financial inclusion while minimizing inherent risks of disintermediation of any negative impact on the financial system,” it said.