President Muhammadu Buhari has unveiled the Central Bank Digital Currency, CBDC, known as eNaira.
Buhari launched the country’s digital currency at the Presidential Villa, Abuja on Monday, October 25, 2021.
The event had in attendance the Vice President, Yemi Osibanjo; Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele; Attorney General of the Federation, Abubakar Malami; among others.
Nigeria’s banking community, Fintech operators, merchants and a cross-section of other stakeholders were involved in the design of this digital currency.
Recall that the digital currency was billed to be unveiled on October 1 but was shifted due to activities on Independence Day.
CBN noted that the launch of the digital currency is a major step forward in the evolution of money. The bank vowed to ensure that the eNaira, like the physical Naira, is accessible by everyone, particularly the unbanked as well as those living in the rural areas.
“The Nigerian Central Bank Digital Currency is among the first in the world and thus authorities have put measures in place to deal with any issues that might arise from the pilot implementation of the eNaira, whose theme is Same Naira, More Possibilities,” said Osita Nwanisobi, Director, Corporate Communication, Central Bank of Nigeria.
