CBN postpones launch of eNaira

The Central Bank of Nigeria has announced the postponement of the planned unveiling of the digital currency, eNaira.

Daily Trust reports that the launch was initially scheduled for October 1.

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The apex bank’s Director of Communications, Osita Nwasinobi, explained in a statement that the CBN took the decision to postpone the launch, which had been initially planned to coincide with the Independence anniversary.

The statement was titled, “CBN defers eNaira launch to mark Independence Anniversary”.

While assuring that there was no cause for alarm, Nwasinobi said the CBN and other partners were working round the clock to ensure a seamless process that will be for the overall benefit of the customer, particularly those in the rural areas and the unbanked population.

Reiterating the benefits of the eNaira, he said that Nigerians would be able to carry out peer-to-peer transfer to another person’s eNaira wallet as well as pay for goods and services at selected merchants.

He added that the eNaira would also help reduce the use of cash and ensure stability of the Nigerian economy.

On the readiness of banks and other financial institutions in the financial ecosystem for the launch of the eNaira, he reiterated that the digital currency was a journey.