CBN says eNaira will be unveiled on Monday

The CBN says the digital currency will make financial transactions easier and seamless for every stratum of the society.

CBN says eNaira will be unveiled on Monday (Pavestones Legal)

The Central Bank of Nigeria (CBN) has announced that Federal Government will on Monday, October 25, 2021, unveil its digital currency, known as the eNaira.

The apex bank made this known in a statement by its Director of Corporate Communications, Osita Nwanisobi on Saturday, October 23, 2021.

The CBN said that the digital currency would make financial transactions easier and seamless for every stratum of the society.

The statement reads, “Following series of engagements with relevant stakeholders including the banking community, fintech operators, merchants and a cross-section of Nigerians, the CBN designed the digital currency, which shall be activated on Monday, October 25, 2021.

“The eNaira, therefore, marks a major step forward in the evolution of money and the CBN is committed to ensuring that the eNaira, like the physical Naira, is accessible by everyone.”

The statement further said that the unveiling of the currency marked the first step in a journey, that would continue with a series of further modifications, capabilities and enhancements to the platforms.

The CBN also promised to continue working with relevant partners to ensure a seamless process that would benefit every user, particularly those in the rural areas.

“Since the eNaira is a new product, and among the first CBDCs in the world, we have put a structure to promptly address any issue that might arise from the pilot implementation of the eNaira,” the apex bank said.

According to the CBN, more details about eNaira are available on enaira.gov.ng.

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