Nigeria: CBN says 700,000 eNaira Transactions Worth N8bn Recorded in One Year

Over 2.5 million daily visits to the eNaira website

The Central Bank of Nigeria (CBN) reported that some achievements have been accomplished since the introduction of the eNaira, the bank’s digital currency.

In the year since the eNaira’s introduction, over 700,000 transactions totaling N8 billion have been logged, according to CBN Governor Godwin Emefiele.

“Since its launch, the eNaira has offered Nigerians endless possibilities in using financial services, thus living up to the chosen slogan, “Same Naira, More Possibilities,” as well as accomplishing some set objectives,” Emefiele said in his keynote address at the “eNaira 1 year Anniversary” held at the CBN Main Auditorium.

“Specifically, there has been overwhelming interest and encouraging response from Nigerians and other parties across the world as indicated by the following milestones:

“33 banks are fully integrated and live on the platform. N3.00 billion has been successfully minted by the bank. N2.10 billion has been issued to financial institutions. About 1.0 million (919,000) customers have been onboarded.

“Over 3,305 merchants have successfully registered on the eNaira platform across the country including Shoprite, Sahad Stores, A.A. Rano fuelling stations, Fraser Suites, and November Cubes, among others.

“Over 700,000 transactions amounting to about N8.00 billion have been recorded on the platform. Over 2.5 million daily visits to the eNaira website. “

Emefiele said the eNaira sought to leverage the huge opportunity of mobile telecommunications as a distribution channel for offering digital financial services to the underserved and unbanked population.

“It is the bank’s hope that the eNaira will drive the digital economy agenda and foster a more prosperous Nigeria,” he said.