THE Central Bank of Nigeria (CBN) has minted N500 million worth of digital currency, the CBN governor, Godwin Emefiele, has said, adding that 33 banks have been fully integrated into the platform.
Ememfiele said this at a ceremony to launch Nigeria’s Central Bank Digital Currency on Monday, at the presidential villa, noting that the platform has recorded an influx of users.
”33 banks are fully integrated and live on the platform, 500 million has been successfully minted by the Bank, N200 million has been issued to financial institutions, over 2,000 customers have been onboarded and over 120 merchants have successfully registered on the eNaira platform,” he said.
“Customers who download the eNaira Speed Wallet App will be able to perform the following: onboard and create their wallet; fund their eNaira wallet from their bank account; transfer eNaira from their wallet to another wallet and make payment for purchases at registered merchant locations.”
The CBN governor said the eNaira will be deployed for the “onboarding of revenue collection agencies to increase and simplify collections and the creation of sector-specific tokens to support the Federal Government’s social programmes and distribution of targeted welfare schemes in a bid to lift millions out of poverty by 2025.”
He also explained that the eNaira and the physical Naira are the same legal tender and will have the same value which will be accepted anywhere in the country.
“As the tagline simply encapsulates, the eNaira is the same Naira with far more possibilities. The eNaira – like the physical Naira – is a legal tender in Nigeria and a liability of the CBN. The eNaira and Naira will have the same value and will always be exchanged at 1 naira to 1 eNaira,” he added.
Emefiele also stated that since the eNaira platform went live, the website has received over 2.5 million visits daily while pledging that “there would be strict adherence to the Anti-money Laundering and Combating the Financing of Terrorism standards in order to preserve the integrity and stability of Nigeria’s payment system.”
He assured that the CBN would continue to refine and upgrade the eNaira.
The platform can be accessed without the internet, using USSD. Nigerians without their Bank Verification Numbers (BVN) can also gain access.
