The central bank of Nigeria has announced the unveiling of the new central bank digital currency, eNaira today by the president, Muhammadu Buhari. Also present at the unveiling were Vice President, Yemi Osinbajo, Cbn governor, Godwin Emefiele and a few at the Presidential villa in Abuja.
President Muhammadu Buhari said that, by the introduction of the eNaira, Nigeria had become the first country in Africa, and one of the first in the world to introduce a digital currency to its citizens and the adoption of Central Bank Digital Currency(CBDC) can increase Nigeria’s Gross Domestic Product(GDP) by 29 billion dollars over the next 10 years. He added that there were Nigeria-specific benefits of the digital currency that cut across different sectors of the economy.
However, the Governor of the Central Bank of Nigeria, Godwin Emefiele, has said 33 Nigerian banks have joined the eNaira platform and the apex bank has minted N500 million worth of digital currency for all Nigerians to access.
In his speech, the cbn governor explained that the eNaira and the physical Naira are the same legal tender and will have the same value which will be accepted anywhere in the country.
Emefiele also added that since the eNaira platform went live, the website it receives over 2.5 million visits daily while pledging that “there would be strict adherence to the Anti-money Laundering and Combating the Financing of Terrorism standards in order to preserve the integrity and stability of Nigeria’s payment system.”