BY MAYOWA SAMUEL
President Muhammadu Buhari will formally launch the Nigerian Central Bank Digital Currency, known as the eNaira, at the State House, Abuja, on Monday, October 25.
The Director, Corporate Communications Department of the CBN, Osita Nwanisobi, confirmed this on Saturday.
The eNaira launch, which is a culmination of several years of research work by the apex bank is aimed at advancing the boundaries of payments system for easier financial transactions for every strata of the society.
The design of the digital currency by CBN follows series of engagements with relevant stakeholders consisting the banking community, fintech operators, merchants and a cross section of Nigerians.
With the launch of the eNaira, the CBN said it is taking as a major step forward in the evolution of money in Nigeria and committed to ensuring that the eNaira, like the physical Naira, is accessible by everyone.
Nwanisobi said the CBN will continue with a series of further modifications, capabilities and enhancements to the platforms while continuing to work with relevant partners to ensure a seamless process beneficial to every user, particularly, those in the rural areas and the un-banked population.
He said, “Since the eNaira is a new product, and amongst the first CBDCs in the world, we have put a structure to promptly address any issue that might arise from the pilot implementation of the eNaira.
“Accordingly, following Monday’s formal launch by the President, the Bank will further engage various stakeholders as we enter a new age consistent with global financial advancement,” he added.
