Connect with us

Entertainment

CBN Reveals The Uses Of eNaira In Terms Of Transactions

Published

on

The Central Bank of Nigeria’s eNaira wallet has become the first digital currency to go live in Africa.

The Central Bank of Nigeria (CBN) is the one issuing the eNaira wallet and the eNaira wallet has the same value as the Naira value.

eNaira is a digital currency that uses block chain technology and is Nigeria’s first digital currency platform.

The Central Bank of Nigeria said that eNaira will provide a unique form of money which will be denominated in Naira.

Enaira

On Monday, October 25, 2021, President Muhammadu Buhari of Nigeria officially launched the digital currency, Yester, at Abuja’s State House.

The Central Bank of Nigeria’s eNaira wallet is supposed to guarantee secure, more convenient, and faster transactions with other banks in the country.

The eNaira wallet is a digital storage which holds the eNaira.

The Central Bank of Nigeria revealed that they received more than five thousand downloads of the e-Naira within a few hours of its launch.

The Central Bank of Nigeria said charges for any transaction on the e-Naira wallet will be free for the first 90 days after it was launched.

eNaira is the digital form of cash and it is the direct liability of the Central Bank of Nigeria.

Customers can now access eNaira through the eNaira wallet in the Google Play store and the Apple App store.

Once customers have access to the wallet, they can use the eNaira wallet to receive and send money.   The customer’s deposit will be a direct liability of the financial institutions like the deposit banks and CBN.

Users can also dial a USSD short code and follow the required steps to perform transactions.

The eNaira has the same value as the physical naira. Hence, one naira will be exchanged for one eNaira and vice versa.

Commercial deposit banks said transactions with e-Naira can guarantee;

  1. 99.9% service availability and reliability.   Instant settlement  
  2. No dispensing errors.  
  3. Charges are minimal.  
  4. Nationwide acceptance.  
  5. No reconciliation issues.  
  6. Advanced data privacy and security  
  7. No dispensing errors.  

According to the Central Bank of Nigeria guidelines, accessing, using, and spending the eNaira wallet will be type by type based on the role of each participant.

Share this 🙂
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

BBNaija ‘All Stars’ reunion will not hold Mercy Eke BBNaija ‘All Stars’ reunion will not hold Mercy Eke
Entertainment8 hours ago

“BBNaija All Stars reunion will not hold” – Mercy Eke Confirms

In a surprise move, Big Brother Naija‘s ‘All Stars’ reunion has been scrapped, according to Mercy Eke, a two-time contestant...

BBNaija's Adekunle Rules Out Rekindling Romance with Venita Akpofure In a recent interview with YouTuber Olufemi Daniel, Big Brother Naija star Adekunle has firmly stated that he will not consider rekindling his relationship with ex-girlfriend Venita Akpofure. Their romance had blossomed in the All-Stars edition of the reality show, but Adekunle has made it clear that he has closed that chapter. When asked if he would give their relationship another chance if they were to sit down and talk, Adekunle responded, "While I'm willing to sit down with her, I wouldn't want to rekindle our romance due to the negative experiences we had." He further stated that he didn't get to know Venita outside of the Big Brother house, and their relationship didn't survive beyond their time on the show. Adekunle's comments come as a definitive closure to their highly publicized romance. It seems that the reality star has moved on and is focused on his personal growth and career. BBNaija's Adekunle Rules Out Rekindling Romance with Venita Akpofure In a recent interview with YouTuber Olufemi Daniel, Big Brother Naija star Adekunle has firmly stated that he will not consider rekindling his relationship with ex-girlfriend Venita Akpofure. Their romance had blossomed in the All-Stars edition of the reality show, but Adekunle has made it clear that he has closed that chapter. When asked if he would give their relationship another chance if they were to sit down and talk, Adekunle responded, "While I'm willing to sit down with her, I wouldn't want to rekindle our romance due to the negative experiences we had." He further stated that he didn't get to know Venita outside of the Big Brother house, and their relationship didn't survive beyond their time on the show. Adekunle's comments come as a definitive closure to their highly publicized romance. It seems that the reality star has moved on and is focused on his personal growth and career.
Entertainment8 hours ago

“I Won’t Give It Another Shot At Dating Venita” – BBNaija’s Adekunle (Video)

In a recent interview with YouTuber Olufemi Daniel, Big Brother Naija star Adekunle has firmly stated that he will not...

Adekunle Confirms Split from Venita Akpofure: "We Don't Talk Anymore" Adekunle Confirms Split from Venita Akpofure: "We Don't Talk Anymore"
Entertainment8 hours ago

“We Don’t Talk Anymore, Things Happened Between Us” – BBNaija’s Adekunle Confirms Split from Venita Akpofure (Video)

Former Big Brother Naija housemate, Adekunle, has revealed that his romantic relationship with fellow reality star, Venita Akpofure, has come...

"I have decided to forget about the 1 BTC" - BBNaija's Phyna "I have decided to forget about the 1 BTC" - BBNaija's Phyna
Entertainment4 days ago

“I have decided to forget about the 1 BTC” – BBNaija’s Phyna

Former Big Brother Naija winner Phyna has set the record straight on the controversy surrounding her prizes, contradicting fellow contestant...

Phyna Reacts To Whitemoney's Claim That She Received Her Prize Money Phyna Reacts To Whitemoney's Claim That She Received Her Prize Money
Entertainment5 days ago

Phyna Reacts To Whitemoney’s Claim That She Received Her Prize Money

Big Brother Naija star Phyna, the winner of Big Brother Naija season 7, has spoken out to clarify the ongoing...

Former BBNaija Housemate, Doyin David, Reveals Authenticity Struggle During Her Time on the Show In a recent episode of the CreativiTEA podcast, Doyin David, a former housemate on the popular reality TV show Big Brother Naija (BBNaija), made a surprising admission about her experience on the program. The reality TV star confessed that she pretended to be someone she's not during her time on the show, projecting a more mature personality than she actually possesses. Doyin, who participated in the BBNaija 'Level Up' edition in 2022 and later joined the All-Stars season, expressed regret over her decision to present a false image of herself. "I was trying to project this mature demeanor, but that's not really me," she revealed. "In real life, I'm more fiery and outspoken." The former housemate acknowledged that her attempt to appear more mature affected her authenticity on the show, leading to an unfulfilling experience. "My first run was not my best run... I came out of the show and I hated it. I was fake," she admitted. In addition to discussing her time on BBNaija, Doyin shared that she lost a contract due to comments she made during an interview. She acknowledged that her words led to her being dropped by the brand, stating, "I deserved to be dropped... I talked too much." Doyin's candid revelation offers a glimpse into the pressures of reality TV and the importance of staying true to oneself, even in the face of public scrutiny. Her story serves as a reminder that authenticity is key to building a genuine connection with audiences and maintaining a strong personal brand. Former BBNaija Housemate, Doyin David, Reveals Authenticity Struggle During Her Time on the Show In a recent episode of the CreativiTEA podcast, Doyin David, a former housemate on the popular reality TV show Big Brother Naija (BBNaija), made a surprising admission about her experience on the program. The reality TV star confessed that she pretended to be someone she's not during her time on the show, projecting a more mature personality than she actually possesses. Doyin, who participated in the BBNaija 'Level Up' edition in 2022 and later joined the All-Stars season, expressed regret over her decision to present a false image of herself. "I was trying to project this mature demeanor, but that's not really me," she revealed. "In real life, I'm more fiery and outspoken." The former housemate acknowledged that her attempt to appear more mature affected her authenticity on the show, leading to an unfulfilling experience. "My first run was not my best run... I came out of the show and I hated it. I was fake," she admitted. In addition to discussing her time on BBNaija, Doyin shared that she lost a contract due to comments she made during an interview. She acknowledged that her words led to her being dropped by the brand, stating, "I deserved to be dropped... I talked too much." Doyin's candid revelation offers a glimpse into the pressures of reality TV and the importance of staying true to oneself, even in the face of public scrutiny. Her story serves as a reminder that authenticity is key to building a genuine connection with audiences and maintaining a strong personal brand.
Entertainment6 days ago

“I Admit My Personality In The Show Was F@ke” – BBNaija’s Doyin

BBNaija star, Doyin David, reveals authenticity struggle during her time on the show In a recent episode of the CreativiTEA...

"Happy Married Life" - Erica Nlewedim, Kim Oprah and Others Hint At Diane Russet’s New Marriage Following Her Recent Post "Happy Married Life" - Erica Nlewedim, Kim Oprah and Others Hint At Diane Russet’s New Marriage Following Her Recent Post
Entertainment6 days ago

“Happy Married Life” – Erica Nlewedim, Kim Oprah and Others Hint At Diane Russet’s New Marriage Following Her Recent Post

Big Brother Naija star Diane Russet has set the internet abuzz with her latest Instagram post, fueling speculation about her...

Now Trending

error: Content is protected !!