ENaira

Swetha 21/07/2023
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ENaira News ENaira adoption remains low <0.1% of people using it In the country What Central bank digital currency Of Nigeria Why To promote financial inclusion To increase cross-border transactions To facilitate diaspora remittances To complement existing payment systems Significance First African country to launch a CBDC How Doesn't replace physical Naira Functions as digital representation ENaira wallets Similar to bank accounts Kept separate from existing bank accounts Licensed financial institutions responsibilities ID verification, payment processing Creating wallets for CBDCs Who Launched by Central Bank of Nigeria When Launched in October 2021

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