Economics

95 days after inception, eNaira counts 694,000 downloads

The Central Bank of Nigeria’s (CBN) digital currency, eNaira, has received 694,000 downloads in the 95 days since its inception.

This was revealed by sources close to the central bank’s information.

eNaira was likewise used in fewer than 10% of P2P transactions, whereas Person to Bank and Bank to Person transactions accounted for 90% of eNaira transactions.

According to the CBN, the eNaira transactions reported span from P2P, or Person to Person, to P2M, or Person to Merchant, to Bank to Person, Person to Bank, Bank to Merchants, and Merchants to Bank.

Nigeria’s CBDC is the eNaira, which is the digital equal of the actual naira. According to the apex bank, the eNaira is the same naira with considerably more possibilities, as the tagline plainly states.

According to the source, total iPhone (iOS) downloads were 136,000, while total Android downloads were 558,000.

Guaranty Trust Bank led the group in terms of consumer wallet downloads, with 33%, and Ecobank led the pack in terms of merchant wallet downloads, with 22%.

E-wallets were downloaded from North America to Australia and all throughout Africa, proving worldwide usage.

It also revealed that the software was downloaded in South America, Europe, Asia, and nearly all African countries.

Godwin Emefiele, the governor of the central bank, stated at the most recent MPC meeting that the current deployment of the eNaira was designed for banked Nigerians. He continued by saying that the BVN is included as a need to prevent fraudsters from breaking into the system.

Chinaza Ogbachalu

My name is Chinaza Ogbachalu, and I am a writer. I have been writing news and opinion articles for five years plus and have always had a passion for storytelling. I grew up in Nigeria and graduated from the University of Port Harcourt, Nigeria, with a degree in linguistics and communication studies. I have written books that have been well-received by critics and readers alike. My work often focuses on culture and lifestyle, and I draw inspiration from my own experiences and observations of the world around me. As a news writer, I am responsible for researching and writing engaging and accurate news stories for our online audience. I have a strong passion for current events and am skilled at conducting interviews and gathering information from sources. I am grateful for the support of my readers and am constantly humbled by their enthusiasm for my work. Thank you for taking the time to learn more about me and my writing.