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Home News

CBN postpones launch of Nigeria’s CBDC (eNaira)

by Agosu Omoleye
5 years ago
in News
Reading Time: 1 min read
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Nigerians expected to celebrate its 61 st independent today Friday, October 1, 2021, alongside the launch of the much discussed eNaira, the country’s Central Bank Digital Currency (CBDC), however, it has been postponed by the Central Bank of Nigeria (CBN).

This development was announced yesterday in the country’s capital city, Abuja by the bank’s Director of Corporate Communications, Mr. Osita Nwanisobi.

The director stated that the apex bank’s decision to move the launch date forward was reconsidered owing to lined-up activities for the country’s independence day celebration.

In a statement addressing this postponement, Nwanisobi said:

“The CBN took the decision to postpone the launch, which had been initially planned to coincide with the Independence anniversary, in deference to the mood of national rededication to the collective dream of One Nigeria,”

The director assured Nigerians that there is no cause for alarm, stating that the apex bank is working tirelessly in a way that will see it bring greater benefits to the general public especially to the unbanked population.

Nwanisobi continued that Nigerians will have the leverage to transfer money on the eNaira wallets and also make payments for goods and services.

Following up on the issue about the readiness of the country’s financial ecosystem to eNiara’s introduction, the director said that not all customers will be able to use the service on the day of its launch.

.It’s not clear if the postponement is related to the lawsuit but Nairametrics reported that a cease and desist notification has been sent to the Central Bank of Nigeria (CBN) concerning the use of the name “eNaira.”

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