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Tag: ENaira
Nigerian Central Bank Seeks New CBDC Tech Partner — Bank Urged to Improve E-Naira User Experience – Africa Bitcoin News
More than a year after it launched its central bank digital currency with partner Bitt Inc, the Central Bank of Nigeria is reportedly seeking a new technology partner. The new partner is expected to h...
Nigeria tries to enforce cashless society with CBDC eNaira amidst financial disaster
Nigeria, Africa’s most populous nation and largest economy, is currently facing a financial crisis that has underscored the importance of cryptocurrencies for its population of over 219 million. Despi...
CBN is continuing to develop its eNaira
The Central Bank of Nigeria (CBN) is making progress on the development of its central bank digital currency (CBDC), the eNaira; nevertheless, the CBN is seeking assistance this time around. The Centr...
Nigeria revisits its payments landscape amid sluggish eNaira adoption
Nigeria’s central bank will explore the potential of stablecoins, the adoption of blockchain technology to power a central bank digital currency (CBDC) and regulatory considerations related to initial...
Less than 0.5% Nigerians have used the country’s CBDC e-Naira a year after its launch
Nigeria’s Central Bank Digital Currency (CBDC) e-Naira is failing because of low adoption rates while the government is trying to drive adoption higher, Bloomberg News reported. The E-Naira was launch...
Inside Nigeria’s Ambitious Push of Cashless Society, eNaira CBDC
Nigeria’s push to adopt digital currency and move towards a cashless society shifted into high gear on December 6, when the country’s central bank announced a cap on cash withdrawals, either over the ...
eNaira Nigerian CBDC Rejected by its Countrymen
Why analysts termed the eNaira a massive failure? The discussion on CBDCs has been in the limelight for the last few months, and around 18-19 countries have launched their CBDCs, and 100-plus nations...
eNaira CBDC ‘a massive failure’ despite Nigerian central bank’s claims to the contrary
Geopolitical Analyst Nick Giambruno called Nigeria’s eNaira project a “massive failure” while saying the outcome has not been “what the elites hoped for.” The eNaira launched on Oct. 25, 2021, with Pr...
Nigerians Shun eNaira CBDC and Ruling Elite, Favoring ‘Real’ Crypto
The local Nigerian eNaira CBDC has been deployed for just over a year. However, recent figures show that it has not reached its intended recipients, and adoption is extremely low. Nigeria’s central ba...
One Year on, Has E-Naira Defeated the Private Crypto Adoption?
It has been one year since Nigeria launched Africa’s first central bank digital currency (CBDC). But reports find that the response is all but overwhelming. Bloomberg noted in its recent report that t...
Nigeria’s eNaira has very few takers a year after its launch
A Bloomberg report shows that eNaira is not as popular as it was touted to be. Cryptocurrency adoption is not the problem. CBN is struggling to drive adoption. According to a Bloomberg report, less th...
Nigeria’s CBDC project fails to pick up as only 0.5% of residents use eNaira
Almost one year after Nigeria became the first country to roll out a central bank digital currency (CBDC), new data shows the adoption rate among residents is dismally low. Although the government ha...
Nigeria’s eNaira Records 200,000 Transactions Worth Over $10 Million Since October
Godwin Emefiele, the Governor of the Nigerian Central Bank, said on Thursday that the eNaira, Nigeria’s Central Bank Digital Currency (CBDC), is expected to enter the second phase of its expansion thr...
Nigeria’s CBDC eNaira records $10M in transaction since October
Nigeria’s digital currency eNaira has reportedly reached 270,000 users as recorded transactions hits N4 billion (approx. $10 million) since its launch in October 2021. The CBN Governor Godwin Emefiele...
Nigeria aims for millions of new eNaira users as it increases features, targets unbanked
The eNaira, Nigeria’s central bank digital currency (CBDC), will enter the second phase of its expansion with new technology to beef up its user base, Nigerian Central Bank governor Godwin Emefiele sa...
Nigeria seeks to increase adoption of the eNaira CBDC
Nigeria seeks to increase adoption of the eNaira CBDC. Currently, there are 840,000 active users, and the African state has set a goal to increase that number by 10x within the next 12 months. Nigeri...
Nigerian banks impede e-Naira adoption over concerns it will impact banking revenue
Nigerian banks are reluctant to promote Nigeria’s low-cost central bank digital currency, e-Naira, due to concerns of losing revenue. E-Naira offers a commission-free alternative to traditional money ...
Nigeria Upgrades e-Naira CBDC, Bid to Abolish Crypto
CBN upgrades its CBDC, e-Naira. Urges the usage of e-Naira over fiat currency. All financial assistance from the Nigerian government to be in e-Naira. The play of Central Bank Digital Currency (CBDC)...
Nigerian Government Enhances eNAIRA to Draw Financial Inclusion
The Central Bank of Nigeria (CBN) has announced the upgrade to its Central Bank Digital Currency (CBDC) dubbed the eNAIRA. Bariboloka Koyor, a Branch Controller of the apex bank confirmed the new move...
Central Bank of Nigeria to Upgrade eNaira for More Uses, Including Bill Payments
The Central Bank of Nigeria will launch an upgrade for its eNaira next week. The upgrade will allow the digital currency to be used on a wider range of goods and services, including bill payments. Nig...
Nigeria’s Central Bank says eNaira can be used to make bill payments
The Central Bank of Nigeria (CBN) is advancing its plans for its central bank digital currency. The institution has now said that it will be possible for locals to make bill payments using the eNaira....
Nigeria’s Central Bank to Allow Bill Payments in eNaira (Report)
The Central Bank of Nigeria (CBN) will reportedly enable locals to pay their bills, TV subscriptions, and flight tickets using the eNaira. The move is part of a campaign that aims to popularize the fi...
Nigeria’s eNaira CBDC may pose money laundering risks, IMF warns
advertisement The International Monetary Fund (IMF) warned that Nigeria’s eNaira could pose money laundering risks, despite previously stating that the central bank digital currency (CBDC) was safer t...
Dead On Arrival? How The Nigerian eNaira Has Fared Since Launch
The Nigerian eNaira was launched to much fanfare after delays had rocked the project. Upon launch, it made the West African nation one of the very first countries to issue its very own central bank di...
eNaira Shows That CBDCs Are Maturing
eNaira is old news in the world of Central Bank CPF Digital Currencies and crypto-currencies. The eNaira announcement is just a few months old. In the fast moving world of crypto-news it has already b...