The eNaira will be unveiled on Monday
On Monday, at the State House in Abuja, President Muhammadu Buhari will officially unveil the Nigerian Central Bank Digital Currency, known as the e-Naira.
President Buhari will unveil the e-Naira on Monday, October 25th, 2021, according to Osita Nwanisobi, Director of Corporate Communications at the Central Bank of Nigeria.
The launch of the eNaira, according to the statement, is the culmination of several years of research work by the Central Bank of Nigeria in pushing the boundaries of payment systems in order to make financial transactions easier and more seamless for people from all walks of life.
The CBN designed the digital currency, which will be activated on Monday, October 25, 2021, after a series of engagements with relevant stakeholders including the banking community, fintech operators, merchants, and a cross-section of Nigerians, according to the statement.
“As a result, the eNaira represents a significant step forward in the evolution of money, and the CBN is dedicated to ensuring that the eNaira, like the physical Naira, is accessible to all.”
The unveiling, the statement said, marked the first step in the eNaira journey, which would continue with a series of additional modifications, capabilities, and enhancements to the platforms.
The CBN stated that it would continue to collaborate with relevant partners to ensure a seamless process that benefits all users, especially those in rural areas and the unbanked.
Also Read: eNaira Registration Portal Login Website
“Because the eNaira is a new product, and one of the first CBDCs in the world,” the CBN explained, “we have put in place a structure to quickly address any issue that may arise from the pilot implementation of the e-Naira.”
Following the President’s formal launch on Monday, the CBN stated that it would continue to engage various stakeholders as it entered a new era in line with global financial progress.