By Olabisi Salau
President Muhammadu Buhari will unveil the Nigerian Central Bank Digital Currency (CBDC), known as the eNaira, on Monday at the State House, Abuja.
The CBN, Corporate Communications Director Osita Nwanisobi, in a statement yesterday, said the launch of the eNaira is a culmination of several years of research work by the apex bank in advancing boundaries of the payments system in order to make financial transactions easier and seamless for every layer of the society.
The CBN designed the digital currency following series of engagements with relevant stakeholders including the banking community, fintech operators, merchants and other stakeholders.
Nwanisobi said the eNaira “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”.
Nwanisobi clarified that given that the eNaira is a journey, the unveiling marks the first step in that journey, which will continue with a series of further modifications, capabilities and enhancements to the platforms.
“The CBN will continue to work with relevant partners to ensure a seamless process that will benefit every user, particularly those in the rural areas and the unbanked population.
“Since the eNaira is a new product, and amongst 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 eNaira,” the statement read.
The CBN is expected to further engage various stakeholders after Monday Launch.