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CBN records 700,000 eNaira transactions worth N8bn in one year

The Central Bank of Nigeria (CBN) yesterday said the eNaira has logged in over 700,000 transactions worth N8 billion since its introduction a year ago.

CBN Governor, Godwin Emefiele, who disclosed this at the first anniversary of the Nigerian variant of the central bank digital currency (CBDC), said the eNaira website also attracts over 2.5 million visits daily.

Emefiele in his keynote address said: “Since its launch, the eNaira has offered Nigerians endless possibilities in using financial services, thus living up to the chosen slogan: ‘Same Naira, More Possibilities,’ as well as accomplishing some set objectives.”

He continued: “Specifically, there has been overwhelming interest and encouraging response from Nigerians and other parties across the world as indicated by the following milestones:

“33 banks are fully integrated and live on the platform. N3 billion has been successfully minted by the bank. N2.10 billion has been issued to financial institutions. About 1.0 million (919,000) customers have been on-boarded.

“Over 3,305 merchants have successfully registered on the eNaira platform across the country including Shoprite, Sahad Stores, A.A. Rano fuelling stations, Fraser Suites, and November Cubes, among others.”

Since its launch, the eNaira has offered Nigerians endless possibilities in using financial services, thus living up to the chosen slogan: ‘Same Naira, More Possibilities,’ as well as accomplishing some set objectives.

Emefiele said the eNaira seeks to leverage the huge opportunity of mobile telecommunications as a distribution channel for offering digital financial services to the underserved and unbanked population.

“It is the bank’s hope that the eNaira will drive the digital economy agenda and foster a more prosperous Nigeria,” he said.

In October last year, Nigeria became the first African country to introduce a digital currency, following the launch of the eNaira by President Muhammadu Buhari.

With the launch, Nigeria joined the Bahamas and the Eastern Caribbean Central Bank to become the first jurisdictions in the world to roll out national digital currencies.

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