By Monday, Buhari will unveil the eNaira.

President Muhammadu Buhari will publicly unveil eNaira, Nigeria’s first digital currency, on Monday.

 

The Central Bank of Nigeria (CBN) spokeswoman, Osita Nwasinobi, confirmed this in a statement on Saturday.

 

The launch of the eNaira had been postponed by the CBN due to significant festivities planned for the country’s 61st independence anniversary on October 1.

 

Nwasinobi has recently stated that the eNaira’s introduction is the conclusion of the apex bank’s numerous years of study into pushing the frontiers of payment systems in order to make financial transactions easier and more smooth.

 

The CBN devised the digital currency, which will be launched on Monday, October 25, 2021, after a series of discussions with important stakeholders such as the banking community, fintech operators, merchants, and indeed a cross section of Nigerians,” according to the release.

 

“As a result, the eNaira represents a significant step forward in the evolution of money, and the CBN is dedicated to ensuring that the eNaira, like the physical Naira, is available to all.”

 

The introduction is the first stage in the eNaira’s journey, which will continue with a series of additional adjustments, features, and additions to the platforms.

 

 

The CBN will continue to collaborate with key partners to guarantee a smooth process that benefits all users, including those in rural areas and those who are unbanked.

 

Because the eNaira is a new product and one of the first CBDCs in the world, we’ve put in place a system to quickly handle any issues that may develop during the eNaira’s pilot implementation.

 

“As a result, following the President’s formal introduction on Monday, the Bank will continue to engage various stakeholders as we enter a new era of global financial advancement.”

 

‘Same Naira, More Possibilities’ is the theme of the eNaira launch, according to him.