Five Core Features Of eNaira

Five (5) Core Features of eNaira can be accessed below.

 

 

Newsonline understands that eNaira is a central bank digital currency (CBDC) issued by the Central Bank of Nigeria (CBN) as a legal tender.

 

ALSO: E-Naira Registration 2021 – ENaira App Download – How To Register For E-Naira Wallet | E-Naira Wallet Login

 

It is the digital form of the Naira that will be used just like cash we spend daily across the country.

 

Explaining the major difference between the eNaira and money in the bank account, CBN notes eNaira is a direct liability on the CBN while the customer deposits are direct liabilities on the financial institutions.

 

The information available on the eNaira website shows it does not yield any interest unlike the money in the bank account.

 

eNaira will be held in digital storage known as a wallet managed on a distributed ledger.

 

eNaira wallet is required to access, hold and use eNaira.

 

The idea dates back to 2017 when the apex bank set the ball rolling with consultations, presentations and discussions.

 

The launch was scheduled for the 61st Independence Anniversary until the CBN spokesman, Osita Nwanisobi, explained the planned unveiling had been deferred due to other key activities lined up to commemorate the Independence ceremony.