President Muhammadu Buhari will unveil the country’s first digital currency known as eNaira on Monday.
This was disclosed in a statement made by the spokesperson of the Central Bank of Nigeria (CBN), Osita Nwasinobi, on Saturday.
Nwasinobi said the launching of the eNaira is a fulfillment of many years of research by the apex bank in improving the thresholds of payment systems and making financial transactions easier and seamless.
According to the CBN spokesperson in his statements, he said: “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 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.
“Given that the eNaira 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 eNaira 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 air.
“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.”
He further added that the theme of the entire launch is ‘Same Naira, More Possibilities’.
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