E Naira Digital Currency | As The Enaira Debuts Today Here Are Some Reasons You Should Use The Digital Currency Nairametrics

October 25, 2021

Is the e-Naira available to the unbanked. In terms of the e-naira design it will be a legal tender just like cash which is one of the fundamental differences between it and the cryptocurrency.

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Across Nigerias finance industry and among cryptocurrency and blockchain enthusiasts the question of the real impact if any.

E naira digital currency. The Central Bank of Nigeria CBN has activated the e-naira portal ahead of the official launch of the digital currency on October 1. The Central Bank of Nigerias eNaira website has gone live ahead of October 1 official launch. This is perhaps the exciting part of CBNs move- finally an effort to reach the unbanked- a great step towards financial inclusion.

One e-Naira is equal to N1. So if you have N10m and N2m of it is in the digital currency wallet you still have N10m. Although the platform has been activated no transactions have been allowed on it for now.

She further said that the digital currency would be a legal tender like the fiat naira. The Central Bank of Nigerias CBN digital currency dubbed e-Naira has sparked hot debates since the apex bank sent a presentation on its use case to Nigerian banks slating October 1 as its launch date. Nairametrics reviewed publications from the Central bank of.

As Nigeria braces to receive the e-Naira which is set to be launched by the Central Bank of Nigeria CBN on October 1 2021 many are starting to inquire about the security of this new digital currency and if it is vulnerable to hackers. On the e-naira design she said that the CBN had concluded its development and it would soon be unveiled. Rotational presidency unconstitutional Northern Governors reply Southern counterparts Well no longer tolerate IPOBs sit-at-home order in.

Chizobar Eze who also commented on the issue noted that the proposed eNaira issued by the CBN as a legal tender is the digital form of the Naira and will be used just like cash.

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