Buhari to launch eNaira Monday

President Muhammadu Buhari will launch the country’s digital currency, eNaira, at the Presidential Villa, Abuja, on Monday.

The Central Bank of Nigeria (CBN) disclosed this in a statement issued on Saturday by its Director of Corporate Communications, Osita Nwanisobi.

The CBN suspended the launch of the digital currency earlier slated for October 1 after a firm, ENaira Payment Solutions Limited, sued the apex bank over trademark infringement.

The statement said: “Following series of engagements with relevant stakeholders including the banking community, fintech operators, merchants, and a cross-section of Nigerians, the CBN designed the digital currency, which shall be activated on Monday, October 25, 2021.

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“The eNaira, therefore, marks a major step forward in the evolution of money, and the CBN is committed to ensuring that the eNaira, like the physical Naira, is accessible by everyone.”

“Since the eNaira is a new product, and among the first CBDCs in the world, we have put a structure to promptly address any issue that might arise from the pilot implementation of the digital currency.”

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