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eNaira

eNaira Sees Surge In Transaction Volume, Yet Adoption Lags Behind

eNaira Sees Surge In Transaction Volume, Yet Adoption Lags Behind

The Central Bank of Nigeria (CBN) has revealed 284.6% increase in eNaira transaction volume for August 2023, reaching N9.78 billion, as reported in its Monthly Economic Report. Despite this spike, eNaira’s ratio to Currency-In-Circulation (CIC) remains at a modest 0.37%. “eNaira experienced
December 28, 2023
IMF Says CBN’s eNaira Have Unknown Consequences

IMF Says CBN’s eNaira Have Unknown Consequences

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the eNaira and other retail Central Bank Digital Currencies (CBDC) have unknown consequences. CBDC is a government-controlled digital currency that is split into two types; retail and wholesale
May 5, 2023
No Plan To Phase Out Naira Notes, CBN Debunks

No Plan To Phase Out Naira Notes, CBN Debunks

The Central Bank of Nigeria (CBN) has debunked the viral report that the apex bank had planned to phase out the circulation of the conventional Naira notes and replace it with digital currency, otherwise known as eNaira. CBN’s Director of Communications, Osita
May 23, 2022
eNaira

eNaira: CBN Gives Update On Nigeria’s Digital Currency

The Central Bank of Nigeria (CBN) has provided updates on eNaira, saying the Nigeria’s digital currency is easy to access and gives no room for fraud or counterfeiting. The CBN, however, asked market women and leaders to embrace the country’s digital currency.
May 6, 2022

eNaira: Secure, Dependable In Spite Of Challenges – CBN

Central Bank of Nigeria, CBN, has said that though the eNaira may currently have some challenges, it remains secure and dependable. Director of Corporate Communications, Osita Nwanisobi, made this known while speaking at the ongoing CBN fair in Abakaliki, Ebonyi State. He
October 30, 2021
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