Finance

Nigeria to launch eNaira next October 4

Nigeria to launch eNaira next October 4
Tuesday, 28 September 2021 13:40

Initially scheduled for October 1, the eNaira will finally be launched on October 4. The announcement was recently made by Godwin Emefiele (pictured), governor of the Central Bank of Nigeria (CBN), in New York.

The main reason for the rescheduling is the national holiday protests to be held on October 1. “The central bank would not want the event to take the shine away from the Independence celebration,” Emefiele said.

“We are going to be the first country in Africa to launch a digital currency. It is a novel idea because we think it will facilitate trade. With Nigeria being the biggest economy in Africa, this will set the tone to tell Africa that we are ready to lead and we would indeed lead in trade and we would make sure that happens,” he added.

The eNaira platform went live a week before the token's official launch. It registered a million visits within 24 hours, according to Thisday's analysis. It also displayed the services that the CBN would offer with its digital currency. Services focus on easier financial transactions for eNaira users. These include making peer-to-peer payments (from a bank account or linked card), transferring money from bank account to eNaira wallet, or making payments in stores using eNaira wallet by scanning QR codes.

On the same topic
CEMAC non-performing loans fall to 16.0% in 2025, BEAC says Lending rises 10.7% despite tighter liquidity and higher borrowing costs Growth,...
Investec secures $200 million IFC loan for green housing finance Funds to support eco-buildings, affordable green home loans in South...
“Keur Samba” securitization bonds begin trading on the BRVM Operation backed by NSIA Banque CI and Orabank CI totals CFA52 billion Move aims...
Witti Finances Holding acquired a majority stake in Kajas Microfinance, entering the Senegalese market. The firm rebranded the entity as Witti...
Most Read
01

EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...

EBID Charts Green Shift to Finance West Africa’s Growth
02

BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...

BCEAO Imposes June 30 Deadline to Complete Instant Payments Integration
03

Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...

Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
04

This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...

Weekly Health Update | Africa Faces Health Supply Risks; DRC Ends Mpox Emergency
05

MTN Ghana completes separation of mobile money into new entity Move aims to boost fintech growth ...

MTN Ghana Completes Mobile Money Spinoff, Creates Standalone Fintech Entity
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.