Nigeria slashes eNaira’s merchant service charge by 50% to spur adoption
Since its launch in October 2021, the eNaira has seen lackluster uptake, and the Central Bank of Nigeria is seeking to remedy this in its latest move.
Latest eNaira News
eNaira hits $10M in transactions as Nigeria central bank targets 10-fold growth
The eNaira adoption has been lackluster, with the total transaction volume over the past year being just a fraction of the digital assets trading volume.
Nigeria’s eNaira now available via USSD to boost adoption and financial inclusion
The central bank believes that making the eNaira available to feature phone users will boost uptake, although some are skeptical about security and privacy.
Nigeria SEC publishes digital asset regulations amid central bank crackdown
The securities regulator has issued policies for ICO issuers, digital asset exchanges, custodians, VASPs, and when assets qualify as securities, but the central bank is still hostile.
Nigeria upgrades eNaira to widen payments scope
The Central Bank of Nigeria said the upgrade makes onboarding easier, makes the wallet faster, and allows users to create a much wider range of payments.
PwC: More than 80% of central banks have considered launching CBDC
The PwC Global CBDC Index placed Nigeria and the Bahamas at the top of the retail CBDC developments, with Thailand and Hong Kong leading the wholesale sector.
IMF: Nigeria’s eNaira could be used for terrorism financing, money laundering
The IMF says that eNaira could raise financial inclusion to meet the ambitious target of 95%, but says Nigeria must be vigilant as it poses several risks.
Tanzania central bank wants to develop own digital currency
The Bank of Tanzania is looking to expand its digital currency research and development team capacity, following the footsteps of Nigeria’s e-Naira, according to central bank Governor Florens Luoga.
Nigeria’s eNaira mobile app sees 500,000 downloads weeks after launch
The Central Bank of Nigeria further said that $150,000 had been transacted on its app, with 78,000 merchants from 160 countries enrolling for payments.
After initial glitches, eNaira gains traction in Nigeria
The eNaira was launched by President Muhammad Buhari, and after a few glitches, it’s starting to gain traction as more Nigerians appreciate its benefits.
Nigeria rolls out eNaira digital currency to cultivate economic growth
Plans for the digital currency have been ongoing in the last four years and according to CBN Governor Godwin Emefiele, 500 million eNaira ($1.21 million) have already been minted.
Nigeria central bank wins court battle over ‘eNaira’ trademark infringement claims
A fintech firm went to court to sue the Central Bank of Nigeria for trademark infringement over use of eNaira, but the court has sided with the bank.