Aimed at improving Nigeria’s system of payment, the federal banking Authority of Nigeria will launch a digital currency today known as E-Naira.
The eNaira, which is aimed to accompaniment Nigeria’s physical currency (Naira note), will “initiate easy financial transactions and seamless efforts for every echelon,”
You might also be interested
The Central Bank Of Nigeria in an email issued out during the weekend point out the launch of E-Naira to be Monday given that the launch had originally been scheduled for October 1 to the 4th of October but was later delayed in respect to the 61st anniversary of Nigerian independence on October 1.
However, Nigerian financial authority have struggled with cryptocurrency’s increased use in the country and thus had banned crypto currency transactions within the banking district sometime in February following suite in the later announced plans to institute the eNaira.
The eNaira will launch along side a registered wallet Authorized by the CBN which users can either link to their bank accounts or pay as they go with a prepay option, according to the CBN web site.
Receive the latest of our publication and update directly to your inbox by subscribing to our daily post below.