CBN To Make eNaira Available To Nigerians Without Internet

• The Central Bank of Nigeria (CBN) has disclosed that Nigerians without internet-enabled phones will be able to use the eNaira

• The usability of the country’s first official digital currency is expected to extend to every citizen of the country

• CBN also disclosed that the digital currency will be available on mobile banking apps, point-of-sale terminals, USSD, and many others

The central bank of Nigeria has announced that the country’s first digital currency eNaira will be available to Nigerians without Internet-enabled phones.

The CBN disclosed this in a recently released document titled ‘Design paper for the eNaira’.

The government wants to ensure the even those without the internet can use the online currency to maximize its use case.

According to the National Commission for Mass Literacy, Adult and Non-formal Education, about 35 percent of Nigeria’s adult population is illiterate.

The CBN worried that it will risk reduced adoption if the use of the digital currency was limited to internet users alone.

The apex bank also disclosed that the eNaira will be available on existing platforms such as mobile banking apps, Point of Sale terminals, USSD, quick response code, Internet banking, among others.

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In a recent report, the CBN also revealed that the eNaira can be used as a medium for government to send money to citizens who are enabled for welfare.

This means that the government will be able to target welfare payments to certain groups of the population without a need for middle channels.

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