CBN Issues Official eNaira Guidelines

A reward programme for users of the electronic naira, (eNaira), including merchants, has been given the go-ahead by the Central Bank of Nigeria (CBN).


This includes providing merchants with the necessary promotional materials, reducing the existing Merchant Service Charge by fifty percent, and activating a nationwide sensitization that early business adopters of eNaira can leverage on to market the widespread adoption of the digital currency.

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At the weekend’s electronic naira merchants mega event in Abuja, which was organised by the apex bank in collaboration with Araba Technologies LTD, PNAIL, and Abuja Chambers of Commerce and Industry (ACCI) for the Nigerian business community, CBN Deputy Governor for Economic Policies Kingsley Obiora made the announcement of the reward scheme.


Obiora also confirmed that the eNaira platform is now capable of facilitating payments through the use of QR Codes, USSD, Wallet ID, and the eNaira Wallet tag.


“The value-added services on the platform include employee management, interoperability with other enterprise applications, and branch and sub-wallets,”


He assured me that these services are offered in a safe setting because the eNaira platform was developed using a very secure security protocol. “These services are provided in a secure environment.”


Other innovative services on the electronic naira platform are anticipated to be rolled out by the Central Bank of Nigeria (CBN) in collaboration with financial institutions and Fintechs that are already leveraging on the eNaira technology, he added.


“With the eNaira, the CBN seeks to enable businesses and households across and outside the country to make fast, efficient, and reliable payments,” he said. “With the eNaira, the CBN seeks to enable businesses and households across and outside the country.”

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