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Frequently Asked Question About ENaira Wallet

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eNaira Note

Frequently asked questions about eNaira, how to create wallet, what eNaira is all about and more.

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The Central Bank of Nigeria has finally launched the much anticipated Electronic -Naira today Monday 25th 2021.

The eNaira was earlier  scheduled to be launched on October 1, 2021, but was moved due to a chocked up of activities billed for Nigeria’s 61st anniversary celebrations.

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The Digital Currency has two applications – eNaira speed wallet and eNaira merchant wallet, which were launched on the Google Playstore and Apple Store on Monday.

Here are frequently asked questions about eNaira.

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What is an eNaira Wallet?

The eNaira wallet is a digital storage that holds the eNaira. It is held and managed on a distribution ledger. The eNaira wallet is required to access, hold and use eNaira.

What is eNaira?

eNaira is a central bank digital currency (CBCD) issued by the Central Bank of Nigeria as a legal tender. It is the digital form of the Naira and will be used just like cash.

Difference Between eNaira and Money in Account

eNaira is the digital form of the cash and is a direct liability on the Central Bank of Nigeria while the customer deposits are direct liabilities on the financial institutions.

How do i Connect my eNaira Wallet to my bank Account?

The eNaira app allows customers to identify a bank of their choice, connect to their bank accounts and perform transactions.

How is eNaira Wallet Created?

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  1. Pingback: eNaira: How CBN Wants to Drive in Customers from Commercial banks | NairaGists

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