BEGINNING this week, Nigerians will start using the USSD code for eNaira transactions to improve the acceptability of the digital currency. Already, the eNaira, launched last year, has recorded 840,000 downloads in volume terms with the value of transactions at N4 billion. The CBN governor said that as captured in the design paper released, eNaira is a journey, not a one-time event. President Muhammadu Buhari launched the eNaira in October last year as Africa’s first Central Bank Digital Currency. “Therefore, it is important to note that “Enabling Private Sector Innovation” is one of the three foundational principles of Central Bank Digital Currency (CBDC).

Source: Nigerian Tribune August 22, 2022 11:29 UTC