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President Buhari to Unveil Nigeria’s eNaira on October 25th

President Buhari to Unveil Nigeria’s eNaira on October 25th

  • Another launch date has been set for Nigeria’s first official digital currency “eNaira”
  • President Muhammadu Buhari is expected to launch the Central Bank Digital Currency (CBDC) on Monday 25 October 2021
  • The digital currency was scheduled to be launched on October 1st but was later delayed by the CBN

The Nigerian Central Bank Digital Currency (CBDC), known as the eNaira is set to finally be launched after an initial launch date was postponed.

The digital asset is now set to be unveiled by President Muhammadu Buhari on Monday 25 October 2021, at the State House in Abuja.

The latest update is according to a notification that was released by the Central Bank of Nigeria through its Director of Corporate Communications, Osita Nwanisobi.

Nwanisobi disclosed that the theme of the digital currency will remain the same- “Same Naira, more possibilities”.

The eNaira was earlier scheduled to be launched on Nigeria’s Independence Day October 1st but was postponed.

Although the CBN failed to disclose a reason for the postponement, various sources attributed it to a copyright clash regarding the name.

Meanwhile, CBN has disclosed that it plans to make the eNaira accessible to both Nigerians with internet access and without.

eNaira

The online asset will mark an evolution in the currency of Nigeria and possibly limit the use of paper money.

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