CBN Postpones Launch Of eNaira, See Why

The Central Bank of Nigeria (CBN) has postponed the official launch of its digital currency, the eNaira.

The postponement was announced in Abuja on Friday, by Mr. Osita Nwanisobi, the apex bank’s Director of Corporate Communications. Nwanisobi stated that the CBN took the decision to postpone the launch, which had been initially planned to coincide with the Independence Day anniversary, in consideration of other activities lined up to commemorate the day.

Nwanisobi said, “The CBN took the decision to postpone the launch, which had been initially planned to coincide with the Independence anniversary, in deference to the mood of national rededication to the collective dream of One Nigeria,”

Assuring that there is no cause for concern, he stated that the CBN and other partners are dedicated to ensuring a smooth process that benefits customers in general, particularly those in rural regions and the unbanked.
On the eNaira’s advantages, Nwanisobi stated that Nigerians will be able to send money to each other’s eNaira wallets as well as pay for goods and services at selected merchants.

He went on to say that the eNaira will limit the use of currency and ensure the Nigerian economy’s stability.

In response to questions about banks, financial institutions, and other financial ecosystem stakeholders’ readiness for the introduction of the eNaira, he reaffirmed that the digital currency is a journey and that not all bank customers will be able to transact on the day of its debut.