Nigeria’s eNaira CBDC Website Goes Live

29 September, 2021

The Central Bank of Nigeria has launched a website detailing its CBDC, the eNaira. Stating that the eNaira is both a medium of exchange and a store of value, the CBDC will be used in retail payments and remittances. Citizens can begin right away by downloading the app, which also features bank account integration.

The CBDC itself will launch on Oct 1, following the bank’s decision to send documents to local banks on the digital currency. The document describes the role that banks will play in the change. The asset will, of course, be legal tender and have a non-interest-bearing status. Customer and value-based transactions will be a maximum limit.

Check Also

FG Bans Over 2000 Nigerians From Traveling Abroad Over Neglected Covid 19 Protocols

OSBCSeptember 28, 2021 The Federal Government has banned over 2,000 Nigerians and foreigners from traveling …

What makes eNaira different from money in your bank account

The Central Bank of Nigeria’s eNaira website has gone live ahead of the October 1 …

Nigeria at 61: Access Bank to reward 14 customers with N1m each

Access Bank Plc is set to reward 14 customers with N1million each in the DiamondXtra …

Leave a Reply

Your email address will not be published. Required fields are marked *