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President Buhari Officially Launched The E-naira Digital Currency

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President Buhari Officially Launched The E-naira Digital Currency

President Buhari Officially Launched The E-naira Digital Currency

President Muhammadu Buhari unveiled the central bank’s digital currency (CBDC) known as e-Naira on Monday, October 25.
Buhari launched the country’s digital currency at the presidential villa in Abuja.

The event was attended by the Vice-President, Yemi Osibanjo; Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele; Attorney General of the Federation, Abubakar Malami; among other things.

The Nigerian banking community, Fintech operators, traders, and a cross-section of other stakeholders have been involved in the design of this digital currency.

Recall that the digital currency was supposed to be unveiled on October 1, but was moved due to Independence Day activities.
CBN noted that the launch of digital currencies is a major step forward in the evolution of currencies. The bank is committed to making the e-Naira, just like the physical Naira, accessible to everyone, especially those without bank accounts and those living in rural areas.

“The Nigerian Central Bank Digital Currency is among the first in the world and thus authorities have put measures in place to deal with any issues that might arise from the pilot implementation of the eNaira, whose theme is Same Naira, More Possibilities,” said Osita Nwanisobi, Director, Corporate Communication, Central Bank of Nigeria.

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