The Central Bank of Nigeria (CBN) on Thursday, announced the postponement of its Central Bank Digital Currency (CBDC), known as eNaira, in view of the commemoration of the country’s 61st independence anniversary.
The apex bank’s spokesperson Mr. Osita Nwanisobi explained that the CBN took the decision on the launch, initially scheduled to coincide with the independence anniversary, in deference to the mood of national rededication to the collective dream of one Nigeria.
According to him, the bank and other partners were working round the clock to ensure a seamless process that would benefit the customer, particularly those in the rural areas and the unbanked population.
On the benefits of the eNaira, Nwanisobi explained that “Nigerians will be able to carry out peer-to-peer transfer to another person’s eNaira wallet as well as pay for goods and services at selected merchants. The eNaira will also help reduce the use of cash and ensure stability of the Nigerian economy.”
He said that the eNaira is a journey for banks banks and other financial institutions in the financial ecosystem, adding that not all bank customers were expected to commence transactions on the day of the launch.
Nwanisobi also noted that the CBN was mindful of concerns expressed about the eNaira, being among the first CBDCs in the world. According to him, the Bank had put a structure in place to promptly address any issue that might arise from the pilot implementation of the eNaira.
