Embrace ENaira Like Physical Naira, CBN Urges Nigerians


The Central Bank of Nigeria (CBN) has appealed to Nigerians to embrace the bank’s digital currency, eNaira just like the physical Naira, which it described as the nation’s pride

The Director, Corporate Communications Department at CBN, Mr. Osita Nwanisobi stated that eNaira, like the physical Naira is a legal tender in Nigeria and a liability of CBN. 

The eNaira was launched by President Muhammadu Buhari on October 25, 2021. 

Nwanisobi who spoke during the CBN Special Day at the ongoing 35th edition of Lagos International Trade Fair, said, “Since the eNaira platform went live, there has been overwhelming interest and encouraging response from Nigerians and other parties across the world. Today, customers who download the eNaira Speed Wallet App will be able to Onboard and create their wallet; fund their eNaira wallet from their bank account; transfer eNaira from their wallet to another wallet and make payment for purchases at registered merchant locations.”

President of the Lagos Chamber of Commerce and Industry (LCCI), organisers of the trade fair, Mrs. Toki Mabogunje commended the launch of the eNaira, saying, it marks a milestone in Nigeria digital economy.  

Nigeria’s trade with the rest of the world, she said, is expected to receive a boost with the launch of the digital currency.

She however stressed the need for massive awareness campaigns to tell potential users of the benefits of the operational, cyber security implications and its operationalization with other traditional currencies. 


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