CBN says eNaira has completed N188 million worth of transactions

The Central Bank of Nigeria (CBN) has recorded over 34,000 transactions on the eNaira platform, amounting to over N188 million.

This was disclosed by the CBN Controller, Enugu branch, Ch’Edozie Okonjo, at the 2021 Annual Bankers Dinner and Lecture, organised by the Enugu State branch of the Chartered Institute of Bankers of Nigeria, last Friday.

The onset of the COVID-19 pandemic, according to Ch’Dozie, has expedited the global shift to virtual events and contactless payments.

What the CBN is saying 

Ch’Edozie Okonjo said that since the launch of the e-Naira platform, there had been a flood of interest and positive feedback from Nigerians and other parties all over the world.

He said, “So far, we have recorded over 583,000 consumer wallets and about 83,000 merchant wallets downloads, with downloads occurring in over 160 countries (per Google Play Store and Apple Store data).  We have also recorded over 34,000 transactions amounting to over N188 million. These numbers suggest the adoption rate has been excellent.”

He said that the world had yet to revert to its previous regular system, claiming that the pandemic had accelerated the shift to a more digital environment, with the global payment system serving as a prime example.

He explained that while cash usage was dropping, both locally and globally, digital payments were on the rise, necessitating the launch of the eNaira, the Nigerian central bank’s digital currency.

He said, “The eNaira was launched to improve access to finance for individuals and businesses through digital channels to improve financial inclusion, lower the cost of transactions, and increase the flow of credit to households and businesses.”