This article on Naijaknowhow contains everything you should know about Nigeria’s Central Bank Digital Currency (CBDC), the eNaira. You can get links to download the eNaira Speed Wallet apps and eNaira Speed Merchant apps on Android and iOS, and how to create an eNaira account step-by-step.
What is eNaira?
eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira. eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments.
eNaira – Features
The eNaira digital currency can only be exchanged through wallets, these eWallets allow individuals and merchants to receive and make payments. Nigeria’s digital currency, eNaira has the same value and status as the existing naira note, i.e 1 eNaira = 1 Naira. The CBN has made available wallets that can be used in managing your account, keeping track of balance, transferring, receiving and spending the eNaira. There are two wallet apps made available for Nigerians, these are apps are called eNaira Speed Wallet and eNaira Speed Merchant Wallet. To understand these mobile applications better, the first can be used by individuals who wish to own the eNaira, however, merchants with registered businesses should opt for the latter. Interested eNaira users are allowed to move money between their existing bank accounts and their eWallets and vice versa.
eNaira – Benefits
Diaspora Payments: eNaira makes diaspora payments cheap and safe to ensure you get more value for every Naira you earn. Government Aids: Financial Government Aids gets straight to you. eNaira knocks the middlemen out the way and you can claim funds directly. Fast Transactions: The faster, the better. eNaira makes it possible to send funds, save money, and save time while at it. Local Payments: Boycott the queues and pay taxes, and bills from the comfort of your home. It’s easier and it’s dependable Secure Banking: Worried about the safety and security of banking details? Rest assured; the transparency makes everything traceable. Financial Inclusion: Now there’s enough room for everyone to enjoy banking services. The process is easy and the process is simple.
What is an eNaira wallet?
The eNaira wallet is a digital storage that holds the eNaira. It is held and managed on a distributed ledger. The eNaira wallet is required to access, hold and use eNaira. To download the eNaira applications on Android (Google Play Store) and iOS (App Store), simply click any of the app buttons below.
Download eNaira Wallet Apps for Android and iOS
eNaira Speed Wallet
eNaira Speed Merchant Wallet
How to Create an eNaira Account in Nigeria
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