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Jafrin Ahmed
Sep 29, 2021
by Jafrin Ahmed

Nigeria’s eNaira Website Goes Live Ahead of Official Launch Next Month

eNaira website
The official website for Nigeria’s central bank digital currency (CBDC) has gone live, ahead of the planned launch of the eNaira digital currency rollout scheduled to take place on October 1.

Nigeria’s eNaira Website Goes Live

Within just 24 hours of the main webpage launch, the platform has received more than a million hits which listed the benefits of the eNaira, its accessibility and usage, security features, and more.

Per the website, “eNaira is a CB -issued digital currency that provides a unique form of money denominated in Naira.”, adding that eNaira would serve as “both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments.”

The website further explains that users would be able to move money from their bank account to their eNaira wallet with ease, monitor their eNaira wallet, check balances and view transaction history, make in-store payment using their eNaira wallet by scanning QR code and send money to one another through a linked bank account or card.

In addition, the eNaira app would feature and reflect values centered around the ease of use and efficiency while bearing in mind security, “We have developed this App with a deeper understanding of customers, what they value, their abilities and also their limitations.”

eNaira Wants Financial Inclusion

Ultimately, the website claims that eNaira will ensure the inclusion of excluded people in the financial system, improve the effectiveness of monetary policies, ease in tax remittance and collection to support the country’s growth, and ease in targeted social interventions to support Nigerians.

Rakiya Mohammed, the director of IT at the Central Bank of Nigeria, revealed in July that the eNaira would launch on 1 October on the eve of Independence day.

On whether the eNaira can replace Bitcoin, Olumide Adesina, a CEO of Nigerian analyst firm TM Analytics believes the eNaira can’t replace cryptocurrencies but could complement the crypto market and provide leverage for a growing number of people from Nigeria.

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Nigeria’s eNaira Website Goes Live Ahead of Official Launch Next Month
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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