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CBN to deepen payment system via eNaira

CBN, Clickatell launch eNaira USSD channel

The Governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele, has said central banks across Africa and other parts of the world are trying to study Nigeria’s eNaira project.

Emefiele said this on Monday during an experience sharing tour of the CBN’s CBDC (eNaira) by officials of the Bank of Uganda in Abuja.

Emefiele said, “We feel delighted on what we are doing in the area of the Central Bank Digital Currency, CBDC. What we are doing in the area of eNaira is attracting the interest of different countries in the world.”

He noted that the CBN had been receiving a lot of enquiries from central banks in Africa and different parts of the world who were trying to understand what the bank was doing.

The eNaira is a central bank digital currency backed by law and issued by the CBN as a legal tender. It is the digital form of the Naira used as cash.

The bank is planning to introduce payment of bills on the eNaira wallet and to support DSTV renewals, recharge card purchases, and air travel ticket payments, among others, through the wallet.

According to the CBN governor, the eNaira project was also exciting the IMF and the World Bank, but he noted that the country was cautious to ensure that the gains recorded from the project were not eroded.

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