eNaira to launch in Nigeria

Tuesday 28 September 2021 10:43 CET | News

eNaira, a Nigeria-based Central Bank Digital Currency (CBDC), has announced it will launch on October 4, 2021.

After its unveiling, Nigerians should be able to download the eNaira app from either Google plays store or Apple app store, onboard themselves and fund their eNaira wallet using their bank account or with cash at a registered agent location.

eNaira is said to bring about increased cross-border trade, accelerate financial inclusion, and lead to cheaper and faster remittance inflow. According to Sun News, digital money would lead to easier targeted social interventions, as well as improvement in monetary policy effectiveness, payment systems efficiency, and tax collection. 

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Keywords: product launch, CBDC, e-wallet
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Nigeria
This article is part of category

Blockchain & Cryptocurrencies