Glamtush
No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
No Result
View All Result
Glamtush
No Result
View All Result
Home News

BREAKING: eNaira Official Website Goes Live

byeditor
September 27, 2021
in News, Nigeria News
Reading Time: 4 mins read
How To Register For E-Naira Wallet
Share on FacebookShare on TwitterShare on PinterestShare on WhatsappShare on LinkedinShare on Telegram

eNaira official website has gone live.

Glamtush reports that the official website of the upcoming Central Bank of Nigeria’s (CBN) digital currency, the eNaira, has gone live, exactly one week to the planned launch of the initiative.

READ ALSO

Sunday Igboho Appeals To FG: Remove My Name From Wanted List

I Never Received ₦4bn Monthly From NDDC – Amaechi’s Wife Replies Wike

Remarkably, 24-hours after the website went live, it has recorded over one million hits, according to analytics monitored by THISDAY.

The development shows a reflection of the level of interest in the proposed digital currency.

The website promises easier financial transactions for users of eNaira, offers opportunity for peer-to-peer payments which allows users to send money to one another through a linked bank account or card; allows customers to move money from their bank account to their eNaira wallet with ease; can monitor their eNaira wallet, check balances and view transaction history; and make in-store payment using their eNaira wallet by scanning QR codes.

In addition, customers are allowed to scan the QR Code on the website to get started.

CBN Governor, Mr. Godwin Emefiele, while speaking to a gathering of foreign investors in New York, recently, had told his audience that because of activities surrounding the country’s Independence celebration on October 1, the earlier planned launch of the eNaira on the same date would likely be rescheduled to October 4, 2021.

“The central bank would not want the event to take the shine away from the Independence celebration,” he said.

“We are going to be the first country in Africa to launch a digital currency. It is a novel idea because we think it will facilitate trade, Nigeria being the biggest economy in Africa, this will set the tone to tell Africa that we are ready to lead and we would indeed lead in trade and we would make sure that happens.

“Between all central bankers in ECOWAS, we are already working on certain collaboration to make trade, payment and banking system integrate in such a way to set example on the African Continental Free Trade Area (AfCFTA),” he added.

In line with global trend, the CBN recently took a major step towards the launch of its digital currency with its formal announcement of its engagement of global fintech company, Bitt Inc. as its technical partner for the project. To choose the technical partner, the CBN went through a rigorous vendor selection process in line with the Public Procurement Act, conducted by seven departmental directors and a Deputy Governor whereby several companies were evaluated. The evaluation was based on the following criteria: technology ownership and control; implementation timeline; efficiency, ease of adoption; support for anti-money laundering and combating the financing of terrorism (AML/CFT); platform security; interoperability; implementation experience.

Emefiele expressed optimism that the eNaira, would bring about increased cross-border trade, accelerate financial inclusion and lead to cheaper and faster remittance inflow. He said the digital money would lead to easier targeted social interventions, as well as improvement in monetary policy effectiveness, payment systems efficiency, and tax collection.

According to him, after its unveiling, Nigerians should be able to download the eNaira app from either Google plays store or Apple app store, on board themselves and fund their eNaira wallet using their bank account or with cash at a registered agent location.

“If you are a bank customer and you have say N10 million in your bank account, for your comfort of spending and making purchase, you can tell the bank to load N2 million out of your N10 million into your wallet.

“So, your bank balance in physical cash drops to N8 million, while your e-wallet carries N2 million. With that you can make purchases both within and across the country.

“There are so many variance of the eNaira. But this is where we would start because we are not going to pretend that there are not risks in opening your system up. We would look at the various products, determine the risk, determine the best way to mitigate the risk before we now open it up more and more,” Emefiele added.

Also shedding more light on Bitts, he said, “we chose them as a partner. In some other climes where they are, they have their software and they earn their money. But we chose that they would establish their company in Nigeria. “The CBN will own substantially stake in that company. It is a company that will be established in Nigeria and majority holding will be the CBN,” he added.

On his part, the CBN’s Director, Corporate Communications Department, Mr. Osita Nwanisobi, explained that the eNaira project had been a long and thorough process for the apex bank following its resolve in 2017, to digitise the local currency after extensive research and exploration.

Meanwhile, China’s central bank last weekend announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin.

“Virtual currency-related business activities are illegal financial activities,” the BBC quoted People’s Bank of China to have said, warning it “seriously endangers the safety of people’s assets”. China is one of the world’s largest crypto-currency markets. Fluctuations there often impact the global price of crypto-currencies.

The price of Bitcoin fell by more than $2,000 (£1,460) in the wake of the Chinese announcement.
It was the latest in China’s national crackdown on what it sees as a volatile, speculative investment at best – and a way to launder money at worst. Trading crypto-currency had officially been banned in China since 2019, but had continued online through foreign exchanges. However, there has been a significant crackdown this year.

In May, Chinese state intuitions warned buyers they would have no protection for continuing to trade Bitcoin and other currencies online, as government officials vowed to increase pressure on the industry.

In June, it told banks and payment platforms to stop facilitating transactions and issued bans on “mining” the currencies – the trade of using powerful computers to make new coins.

Related Posts

Sunday Igboho
News

Sunday Igboho Appeals To FG: Remove My Name From Wanted List

July 22, 2025
NDDC
News

I Never Received ₦4bn Monthly From NDDC – Amaechi’s Wife Replies Wike

July 22, 2025
Abuja-Heathrow
News

Air Peace To Commence Abuja-Heathrow Flights

July 21, 2025
Citizenship
News

Presidential Aide Slams UK Opposition Leader Badenoch Over ‘False’ Citizenship Claim

July 21, 2025
UNIMAID
Education

UNIMAID Alumni, Students Reject Plans To Rename University After Buhari

July 20, 2025
Sleeping Prince
News

Saudi Arabia’s ‘Sleeping Prince’ Dies After 20 Years In Coma

July 20, 2025
Next Post
Dollar to Naira Exchange Rate

Naira Crashes Further At Official Market Over High Demand Pressure

LATEST COVER

Priscilla Ojo

GPBN Associates Member

Fidelity Bank

Zenith Bank

Sunday Igboho

Sunday Igboho Appeals To FG: Remove My Name From Wanted List

July 22, 2025
WAFCON

Super Falcons Beat South Africa 2-1 To qualify For WAFCON Final

July 22, 2025
Anto Lecky

BBNaija’s Anto Lecky Appointed Edo State SSA For Tourism & Creative Economy

July 22, 2025
President Samia Suluhu Hassan

Access Bank Tanzania Honours  President Samia Suluhu Hassan For Exceptional Leadership

July 22, 2025
NDDC

I Never Received ₦4bn Monthly From NDDC – Amaechi’s Wife Replies Wike

July 22, 2025
Polaris Bank

2025 Maracana Children’s Fest: Polaris Bank Empowers, Impact Over 3000 Youths In Ajegunle Community And Environs

July 22, 2025
Abuja-Heathrow

Air Peace To Commence Abuja-Heathrow Flights

July 21, 2025
Osimhen

Osimhen Set For Galatasaray Medical To Finalize €75m Move

July 21, 2025
Citizenship

Presidential Aide Slams UK Opposition Leader Badenoch Over ‘False’ Citizenship Claim

July 21, 2025
ExxonMobil

ExxonMobil Nigeria Appoints Jagir Baxi As Chairman/Managing Director

July 21, 2025

GLAMTUSH

 

Glamtush publishes the latest trends in fashion, beauty, and lifestyle, as well as those making the fashion world interesting and adorable.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us

REACH OUT

Do you have any news for us? Event Coverage, Press Releases or Adverts? Then reach out to us via glamtush@gmail.com or glamtush15@gmail.com

OFFICE ADDRESS

Lagos, Nigeria

Copyright © 2022 Glamtush

  • About Us
  • Advertise
  • Contact Us
  • Disclaimer
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Terms And Conditions
  • Write for Us

© 2022 Glamtush

No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events

© 2022 Glamtush