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Buhari to launch the eNaira today – Central Bank


President Muhammadu Buhari will officially unveil the Nigerian Central Bank Digital Currency (CBDC), known as the eNaira, at the State House, Abuja, today, Monday, 25th of October,  2021.

According to a statement by the Central Bank of Nigeria (CBN) last night, the digital currency was coming after detailed research,  spanning many years. 

It said, “the launch of the eNaira is a culmination of several years of research work by the Central Bank of Nigeria in advancing the boundaries of payments system in order to make financial transactions easier and seamless for every strata of the society.

“Following series of engagements with relevant stakeholders including the   banking community, fintechoperators, merchants and indeed,  a cross section of  Nigerians, the CBN designed thedigital currency, which shall be activated on Monday, October 25, 2021.  

“The eNaira therefore marks a major step forward in the evolution of money and the CBN is committed to ensuring that the eNaira, like the physical Naira, is accessible by everyone.

“Given that the  eNaira is a journey, the unveiling marks the first step in that journey, which will continue with a series of further modifications, capabilities and enhancements to the platforms. 

“The  CBN  will  continue to work with relevant partners  to  ensure  a seamless process that will benefit every user, particularly those in the rural areas and the unbankedpopulation. 

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