IMF researchers called the eNaira's debut year 'admirable', but offered more suggestions for improving its core mandate.
As technology continues to advance and the use of digital currencies becomes more widespread, as we’ve seen with the recent spike in the use of the e-Naira, we anticipate that Nigeria will experience an accelerated rate of financial inclusion.
Electronic payment efforts have culminated in a significant increase in the total volume of transactions and electronic payment
The apex bank also appealed to Nigerians to embrace digital currency to enhance its cashless policy.
Although the eNaira has seen a surge in wallet creations, it still faces apathy from Nigerians, particularly students and Gen Z.
The apex bank said Nigerians now have varieties of digital payment channels to select from including the eNaira.
The service enables users to send eNaira directly from their wallets to an ATM and withdraw the cash equivalent without the need for a bank account.
It is estimated that less than 0.5% of Nigerians use eNaira
eNaira has recorded 700,000 transactions valued at N8 billion since its inauguration on Oct. 25, 2021
Over 3,305 merchants have successfully registered on the eNaira platform across the country
The apex bank recently introduced the Unstructured Supplementary Service Data (USSD) code for its eNaira. That means Nigerians without internet-enabled phones can use eNaira for transactions
Lagos, Nigeria— Flutterwave, Africa's leading payments technology company, today announced that merchants can now accept eNaira payments from...
