FGN Set to unveil eNaira on Monday- CBN

Oru Leonard

The Federal Government of NIgeria (FGN), will be unveiling the Nigerian  Digital Currency, known as the eNaira, on Monday.

The Director, Corporate Communications, CBN, Osita Nwanisobi, said this in a statement made available to News Dot Africa on Saturday titled, ‘President Buhari to unveil eNaira on Monday, 25 October 2021.’

Mr Nwanisobi noted that the launch of the eNaira which will hold at the State House, is a culmination of several years of research work by the Central Bank of Nigeria (CBN) in advancing the boundaries of payment system in order to make financial transactions easier and seamless for every stratum of the society.

According to him “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.”

Acknowledging the eNaira as an ongoing process, CBN disclosed that the unveiling marked the first step in that journey, which would continue with a series of further modifications, capabilities and enhancements to the platforms.

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

“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 CBN said.

Following Monday’s formal launch by the President, the CBN stated that it would further engage various stakeholders as it entered a new age consistent with global financial advancement.

More details of the eNaira themed  ‘Same Naira, more possibilities,’ could be found on enaira.gov.ng.

(Photo Credit: Naija Tech News)

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