eNaira: 98.5% Of Wallet Unused, IMF Says Adoption Is Low
The International Monetary Fund (IMF) says 98.5 percent of eNaira wallets have not been used even once, it described the public adoption of the eNaira as “disappointingly low”. In its recently released working paper titled ‘Nigeria’s eNaira, One Year After’,…
CBN Urges Nigerians To Embrace eNaira transactions,Says It Will Help To Tackle Financial Crimes.
The Central Bank of Nigeria (CBN) yesterday called on Nigerians to embrace the nation’s digital payment channel (eNaira) to enhance its cashless policy. Its eNaira team which embarked on an awareness and sensitization campaign to Kawo and other markets in…
Central Bank Plans To Add More Telecom Network On eNaira Digital Currency Platform.
The Central Bank of Nigeria (CBN) has announced that it is working to include other telcos on the Central Bank Digital Currency (CBDC) eNaira platform to widen its adoption and acceptance nationwide. Currently, eNaira transactions are only enabled on MTN…
Nigeria eNaira CBDC Facing Challenges, CBN Contracts US Firm To Improve The Digital Currency.
Following continuous actions to create an efficient digital currency, the Central Bank of Nigeria is turning to a New York tech firm to revamp the underlying technology. According to a Bloomberg report, the CBN is in talks with new ‘technology…
Jambites For 2023 UTME Exams To Pay Exam Registration Fee With eNaira CBDC.
The Joint Admissions and Matriculation Board (JAMB) has announced partnership with the Central Bank of Nigeria to use Nigeria Central Bank Digital Currency CBDC eNaira for registration payment of its 2023 UTME exams. CBN also said the development would eliminate…
Nigeria Presses For Central Bank Digital Currency eNaira Usage With The New Cash Withdrawal Limit.
Recently the Central Bank of Nigeria placed new restrictions and limits on the amount of cash citizens are able to withdraw from ATMs, Bank counters and other related physical banking structures. The new decision experts believe will encourage the usage…
CBN Asks University Students To Pay School Fees With eNaira, As Nigeria CBDC Records 8 Billion Worth Of Transactions. Tops PwC Global CBDC chart.
The Governor of the Central Bank of Nigeria, Godwin Emefiele, says the eNaira has recorded 700,000 transactions valued at N8 billion since its inauguration on Oct. 25, 2021. The apex regulatory bank asked university students to pay school fees with…
Nigeria’s CBDC, The eNaira Not Fully Accepted, One Year After Launch.
Nigeria celebrated the e-naira’s first anniversary on October 25, critics claim that the average Nigerian has not adopted Africa’s first central bank digital currency (CBDC). They point to the e-naira wallet’s relatively low number of downloads as well as the…
Flutterwave Adds eNaira As Payment Option.
Flutterwave, an African payment solutions company, has announced the addition of the eNaira as a payment option for merchants, a move aimed at accelerating the adoption of digital currency. The new development is expected to complement other existing payment methods…
eNaira Hackathon: Central Bank of Nigeria, Fintech Support Org To Support Ten Start Ups.
The Central Bank of Nigeria (CBN) in collaboration with the Africa Fintech Foundry (AFF) ; an Access Bank initiative that aims to nurture and accelerate the growth of Fintech startups in Africa, to support 10 startups, to increase the adoption…