Buhari To Launch Digital Naira on October 25

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All is set as President Muhammadu Buhari will on Monday October 25, officially unveil the country’s first digital currency, eNaira, from the State House, Abuja.

The director, corporate communications, Osita Nwanisobi of Central Bank of Nigeria (CBN) in a statement issued on Saturday, said the launch of the eNaira which is a culmination of several years of research work by the CBN to advance the boundaries of payment systems and make financial transactions easy and seamless for every stratum of the society.

The statement further disclosed that, “Following series of engagements with relevant stakeholders including the banking community, fintech operators, merchants and indeed, a cross section of Nigerians, the CBN designed the digital currency, which shall be activated on Monday, October 25, 2021.

“The eNaira, therefore marks a major step forward in the evolution of money and the CBN is committed to ensuring that the eNaira, like the physical Naira, is accessible by everyone.

“Given that the eNaira is a journey, the unveiling marks the first step in that journey, which will continue with a series of further modifications, capabilities and enhancements to the platforms.

“The CBN will continue to work with relevant partners to ensure a seamless process that will benefit every user, particularly those in the rural areas and the unbanked population.

“Since the eNaira is a new product, and amongst the first CBDCs in the world, we have put a structure to promptly address any issue that might arise from the pilot implementation of the eNaira.

“Accordingly, following Monday’s formal launch by the President, the Bank will further engage various stakeholders as we enter a new age consistent with global financial advancement.” eNaira launch is ‘Same Naira, More Possibilities’.

It added that the theme of the eNaira is ‘same Naira, more possibilities,’ for more details do visit the official website: enaira.gov.ng always.

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