Wetin bi eNaira sef?


Nigeria's central bank digital currency (CBDC), the eNaira, have been launched by President Muhammadu Buhari. Buhari said “the digital currency and the blockchain technology it uses can foster economic growth and increase the GDP of Africa's biggest economy by $29 billion over the next 10 years”. I have no doubt about that, than many Nigerians waking up on the 25th October 2021 to realize that Nigeria has a digital valid currency on the internet called “eNaira”.



Many more Nigerians do not know about this electronic currency, how to access and use it, confused about any myths around it and need education and enlightenment which to me is scarce especially to the poor in marginalized, connected and unconnected communities in Nigeria.

To my mind, this digital currency cum eNaira is primarily to open space for financial inclusion where Nigerians can have fast, safe, easy, and cheap means of payment. I do not think it is solely for elites.

Central Bank of Nigeria – issued digital currency that provides a unique form of money denominated in Naira. It is just a digital form of money that can be used for financial transactions on the internet. It is the same as paper Naira money and has not come to replace paper Naira. Paper Naira currency is used physically to transact while eNaira is for all digital financial transactions.  One good thing about it is, it is exchanged peer to peer, universal and does not yield interest. Anybody can hold and use it.

 

How to use e-Naira - #Nigeria digital currency

People can use this digital currency through eNaira wallet app at #Google Play store and Apple App store. Once you have downloaded the app, you can receive and send money using the wallet. Or, dial a USSD shot code and follow the required instructions to carry out your financial transactions any time.

Interestingly #eNaira and paper Naira have the same value and is acceptable by all banks in Nigeria.  


#FinancialInclusion 

  


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