12 things to know about Nigeria’s first digital currency eNaira can be accessed below.
Glamtush had earlier reported that President Muhammadu Buhari on Monday, launched Nigeria’s first digital currency, eNaira.
Buhari unveiled the digital currency at the State House, Abuja with top government functionaries in attendance.
The digital currency was flagged off with over N500m of the currency minted by the CBN.
Speaking during the unveiling, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, disclosed that 33 banks had been fully integrated and live on the platform.
However, as the new eNaira hits Nigerians, below are 12 things to know it.
- It is a digital storage that holds the eNaira.
- It is held and managed on a distributed ledger.
- It can be used for remittance, which includes a cheaper diaspora remittance option.
- It is traceable so fraudulent activities can be traced.
- It can be used for international and local trades.
- It has a unique identity and security structure.
- It is exchanged peer to peer.
- It is universal – anybody can hold it.
- It does not yield any interest.
- Payments can be made by scanning QR codes.
- You can monitor your e-wallet activities.
- First digital currency in Africa.
