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10 months after launch of eNaira, CBN announces USSD code
The Unstructured Supplementary Service Data (USSD) code for the eNaira is *997#, according to the Central Bank of Nigeria (CBN). The USSD code was announced 10 months after the unveiling of the eNiara.
CBN said the *997# eNaira USSD code would enhance diaspora remittances, enable direct welfare disbursement to citizens, as well as improve availability of central bank money, all of which are to improve financial inclusion.
Ripples Nigeria had reported that the eNaira recorded 840,000 downloads since it was launched in October 25, 2021, and has recorded N4 billion transactions across the 270,000 active wallets comprising 252,000 consumer wallets and 17,000 merchant wallets.
Read also: CBN not happy with commercial banks over e-Naira
The USSD transaction code was launched at a five-day Northern eNaira fair 2022, in Kano, on Thursday, where CBN Governor, Godwin Emefiele was represented by the apex bank’s Deputy Governor of Operations, Folashodun Adenisi-Shonubi.
Emefiele said the eNaira, which is a Central Bank Digital Currency (CBDC), will create more possibilities for the usage of Nigeria’s currency, thereby improving lives of the citizens.
The CBN is betting on the 81 million Nigerian adults using mobile phones, and 150 million mobile subscribers, for the successful adoption of the eNaira.
He further explained that, “The eNaira is expected to enhance inclusion, support poverty reduction, enable direct welfare disbursement to citizens, support a resilient payments ecosystem, improve availability and usability of central bank money.”
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