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Buhari to launch eNaira Monday

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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.

READ ALSO: CBN gives update on eNaira; to be usable on phone without internet, BVN, NIN compulsory

“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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