President Buhari Will Unveils CBN Digital Currency

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President Muhammadu Buhari will formally unveil the Nigerian Central Bank Digital Currency, known as the eNaira, at the State House, Abuja.

The spokesman of Central Bank of Nigerian, Osita Nwanisobi, said this in a statement titled ‘President Buhari to unveil eNaira today, 25 October 2021.

It stated that the launch of the eNaira is a culmination of several years of research work by the Central Bank of Nigeria in advancing the boundaries of payment system in order to make financial transactions easier and seamless for every stratum of the society.

Following series of engagements with relevant stakeholders including the banking community, fintech operators, merchants and a cross-section of Nigerians, the CBN designed the digital currency, which shall be activated today, October 25, 2021.

The statement stated that the eNaira, therefore, 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.

The CBN said the unveiling marked the first step in the journey, which would continue with a series of further modifications, capabilities and enhancements to the platforms.

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