Ahead of the proposed launch of the eNaira in October 2021, the Central Bank of Nigeria has officially launched the eNaira website and mobile wallet app.
The eNaira- Nigeria’s Central Bank Digital Currency- if launched next month will become the first CBDC to emerge from an African country. The government is hopeful that the eNaira will bridge the gaps in financial inclusion and ease international and local payments.
Speaking on the proposed eNaira, the CBN Director of Information Technology, Rukiya Mohammed said, “CBDC would contribute to macro-economic growth in the country. If people adopt more of the usage of the e-naira, it would enhance more data to formulate macroeconomic policies. Also, when more countries have their own digital currencies, it would increase the exchange of currency and facilitate cross border trade at a lower cost.”