Nigeria’s President, Muhammadu Buhari on Monday launched the Central Bank digital Currency, eNaira, marking the official kickoff of the initiative.
Njenje Media News brings to you five major facts about the eNaira, please read below:
– The digital currency (eNaira0 has two applications – eNaira speed wallet and eNaira merchant wallet. They were both launched on the Google Playstore and Apple Store on Monday at the State House, Abuja.
– eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira.
– eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments,” the statement read in part.
-eNaira is designed to drive financial inclusion, serve as a backbone for electronic payment in Nigeria.
-eNaira will also enable the movement of more people from the informal to the formal sector.
