With The Theme “Same Naira, More Possibilities”, President Buhari To Launch E-Naira On Monday

Nigeria’s President Muhammadu Buhari is scheduled to formally unveil the Nigerian Central Bank Digital Currency (CBDC), known as the e-Naira, on Monday 25 October 2021, at the State House, Abuja.

 

The launch of the e-Naira is a culmination of several years of research work by the Central Bank of Nigeria (CBN) in advancing the boundaries of payments system in order to make financial transactions easier and seamless for every strata of the society.

 

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

 

A statement by the Director, Corporate Communications, Osita Nwanisobi, said the e-Naira marks a major step forward in the evolution of money and the CBN is committed to ensuring that the e-Naira, like the physical Naira, is accessible by everyone.

 

“Given that the e-Naira is a journey, the unveiling marks the first step in that journey, which will continue with a series of further modifications, capabilities and enhancements to the platforms.

 

“The CBN will continue to work with relevant partners to ensure a seamless process that will benefit every user, particularly those in the rural areas and the unbanked population.

“Since the e-Naira is a new product, and amongst 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 e-Naira.

 

“Accordingly, following Monday’s formal launch by the President, the Bank will further engage various stakeholders as we enter a new age consistent with global financial advancement,” the statement partly read.

 

The theme of the e-Naira is “Same Naira, more possibilities”.

 

You can visit www.enaira.gov.ng to explore the benefits of the e-Naira.