eNaira

eNaira is a Central bank digital currency issued and regulated by the Central Bank of Nigeria.[1] Denominated in naira, the eNaira serves as both a medium of exchange and a store of value and claims to offer better payment prospects in retail transactions when compared to cash.[2][3][4]

The eNaira was launched and activated on 25 October 2021 by President Muhammad Buhari,[5] under the slogan: "Same Naira, More Possibilities".

The eNaira Speed Wallet application was removed from Google Play Store[6] following a sizable number of negative reviews from users. However, the app was eventually restored back on October 28, 2021.[7]

Shortly after the launch of the eNaira, a section of the country's youths had campaigned against its use as a result of the standoff between the Muhammad Buhari-led regime and the country's youths, mostly of the Southern extraction and with the End SARS scar still very much visible, the eNaira has so far has performed poorly and its use is not widespread.[8][9]

References
  1. "Central Bank of Nigeria | Home". www.cbn.gov.ng. Retrieved 2021-10-25.
  2. "eNaira Overview". enaira.gov.ng. Retrieved 2021-10-25.
  3. "eNaira". Zenith Bank Plc. Retrieved 2021-10-25.
  4. "Nigerians Optimistic About Launch of New Digital Currency eNaira". VOA. Retrieved 2021-10-25.
  5. "Buhari to launch eNaira as CBN announces new commencement date". 2021-10-23. Retrieved 2021-10-25.
  6. Techscoops, Nigeria. "Real Reason Enaira app was removed from Playstore".
  7. "Google Restores ENaira Speed Wallet". The Guardian Nigeria. Retrieved 10 November 2021.{{cite web}}: CS1 maint: url-status (link)
  8. "8 Reasons the eNaira Could Fail in Nigeria". FinancialSlot. Retrieved 15 January 2022.{{cite web}}: CS1 maint: url-status (link)
  9. Simmons, Bright (2022-03-21). "African governments can't be both referees and players in consumer fintech". Rest of World. Retrieved 2022-03-28.
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