eNaira CBDC Website for Nigeria Goes Live

eNaira CBDC Website for Nigeria Goes Live

The website for the Central Bank of Nigeria’s central bank digital currency (CBDC), the eNaira, has been established ahead of its formal debut on October 1.

The Central Bank of Nigeria has created a webpage dedicated to the eNaira, Nigeria’s CBDC. The CBDC, which states that the eNaira is both a medium of exchange and a store of value, will be utilized in retail payments and remittances.

Citizens may get started right immediately by installing the app, which also integrates with their bank accounts.

The CBDC will become live on October 1st, after the bank’s decision to deliver documentation on the digital currency to local banks. The paper explains the role that banks will play in the transition. The asset will, of course, be legal tender and will not bear interest. A maximum restriction will be imposed on the customer and value-based transactions.

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