Tag
ENAIRA
Central bank digital currencies (CBDCs) are emerging as a practical way to extend secure, government-backed digital payments to...
When the Central Bank of Nigeria (CBN) launched the eNaira back in 2021, not many outsides of the apex bank thought it was a game changer.
The Central Bank of Nigeria (CBN) has reported a marginal decline in the value of the eNaira, Nigeria's official digital currency.
The Central Bank of Nigeria (CBN) plans to expand the use of its digital currency, eNaira, to facilitate payments into government accounts and allow Ministries, Departments, and Agencies (MDAs) to initiate vendor and beneficiary payments.
Nigeria has been listed as one of the top 3 countries in the world where Central Bank Digital Currency (CBDC) has gained momentum as 44 other countries are starting their pilot phase.
Nigeria’s Central Bank Digital Currency (CBDC), eNaira, makes up less than 1% of the total currency in circulation as of March 2024, almost three years after it was launched.
Among other functionalities, NIMC said the card will also be enabled for the eNaira in compliance with the EMV operational and security standards.
The Central Bank of Nigeria (CBN) has signed a Memorandum of Understanding (MoU) with a blockchain firm, Gluwa to drive the increased adoption of Nigeria’s digital currency, eNaira.
CBN has reported a 284.6% increase in the transaction volume of its digital currency, eNaira, for August 2023.
The total balances represented in Nigeria's central bank digital currency, eNaira surged to N2.5 billion in 2022. This compares to N940 million reported in 2022 representing a 2.65-fold increase year on year.
The Central Bank of Nigeria (CBN) said it has introduced the use of its digital currency otherwise known as the eNaira as a payment option to recipients of diaspora remittance.
A recent report by the International Monetary Fund (IMF) has assessed the adoption of Nigeria's digital currency, the eNaira, as disappointingly low.