President Buhari to Unveil eNaira on Monday, 25 October 2021


Sunday October 24, 2021 / 02:35 AM / by CBN/ Header Image Credit:  Aso Rock Villa


President Muhammadu Buhari is scheduled to formally unveil the Nigerian Central Bank Digital Currency (CBDC), known as the eNaira, on Monday 25 October 2021, at the State House, Abuja.


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 payments system in order to make financial transactions easier and seamless for every strata of the society. Following series of engagements with relevant stakeholders including the banking community, fintech operators, merchants and indeed, a cross section of Nigerians, the CBN designed the digital currency, which shall be activated on Monday, October 25, 2021.


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.


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.


Accordingly, following Monday's formal launch by the President, the Bank will further engage various stakeholders as we enter a new age consistent with global financial advancement.


The theme of the eNaira is: "Same Naira, more possibilities".

Related Video

1.      CIBN Hosts Discourse on Blockchain Tech in Nigeria - Feb 28, 2017


Related Links

  1. Digital Naira (eNaira): Staking out the Gains, Holding up the Pains - Proshare Research

2.      CBN e-Naira Series 2: Can the e-Naira Deepen Financial Inclusion?

3.     CBN e-Naira Series 1: Examining the Positives

 Proshare Nigeria Pvt. Ltd.

Related News - Digital Assets

1.       Legally Speaking, is Digital Money Really Money? - January 14, 2021

2.      Ghana Launches World's First Digital Finance Policy Amid COVID-19 - January 08, 2021

3.      Banks and Thrifts May Participate in INVN and Use Stablecoins for Payment Activities - January 05, 2021

4.      IOSCO Publishes Report on Education of Retail Investors Regarding Risks of Crypto-Assets  - December 24, 2020

5.      How Central Banks Can Catalyze Financial Inclusion Through Digital Currency - October 16, 2020

6.      Regulation of Cryptocurrency and Digital Assets In Nigeria: New Beginnings - October 15, 2020

7.      Stakeholders Call for Clarity in Regulation and Standardization of Nigeria's Digital Asset Market - September 28, 2020

8.     Digital Assets Classification Aimed at Investor Protection - SEC - September 21, 2020

9.      SEC Nigeria Issues Statement on Digital Assets, Their Classification and Treatment - September 14, 2020

10.  China Starts Major Trial of State-Run Digital Currency - April 30, 2020

11.   Analysts Discuss Blockchain Technology and Regulation of Digital Assets in Nigeria - November 18, 2019

12.  Winds of Change: The Case for New Digital Currency - November 15, 2018

13.  Barclays Files Two Digital Currency and Blockchain Patents with U.S. Patent Office - July 21, 2018

14.  Saudi Arabia Capital Market Authority Warns Investors Against Digital Currency Investment - February 13, 2018

15.  Distributed Ledger Tech Solutions For Settlement Of Payments Using Central Bank Digital Currency - October 13, 2017

16.  China Is Developing its Own Digital Currency - March 04, 2017

17.   Sweden's Central Bank Considers Issuing A Digital Currency - November 16, 2016

Proshare Nigeria Pvt. Ltd.

Related News - BlockChain & Cryptos

  1. Digital Naira (eNaira): Staking out the Gains, Holding up the Pains - Proshare Research
  2. CBN Publishes the eNaira Design Paper
  3. Stablecoin Regulation and Growth May Affect Securities Markets
  4. Reasons Australians Should Own Crypto
  5. CPMI and IOSCO Publish Guidance, Call for Comments on Stablecoin Arrangements
  6. China's Central Bank Declares all Cryptocurrency Transactions 'Illegal'
  7. eNaira - Yay or Nay?
  8. CBN Selects Technical Partner for Digital Currency Project
  9. CBN Targets October 1 for Digital Currency Launch
  10. 6 Drawbacks of Cryptocurrency and How You Can Work Around It
  11. Top High Pay Crypto Jobs in Nigeria - Alternative Ways to Earn with Crypto in the Bear Market
  12. Lagos Blockchain and Crypto-Arts Conference 2021
  13. Digital Wallet Opportunities in Middle East and Africa: A Whitepaper by Omdia, in Partnership
  14. Monetary Authority of Singapore and Banque de France Report Success from CBDC Experimentation
  15. The Launch of the Digital Naira and its Likely Impact
  16. The Changing Face of Finance, A New System Beckons
  17. Top Five Microcap Crypto Projects in 2021
  18. How Does Blockchain Technology Work?
  19. The Cryptocurrency Frenzy: A Call for Caution
  20. Bitcoin Price Crash: Is This the End of the Bitcoin Bubble?
  21. Most Important Things You Should Know About Bitcoin
  22. Central Bank of Portugal Grants First Crypto Exchanges Operating Licenses
  23. Things You Need to Consider Before Using Crypto Signals
  24. CBN to Launch Digital Currency Before December
  25. E-Cedi: Bank of Ghana to Pilot Digital Currency
  26. Digital Currency: A Right Move to be Adopted by the CBN?
  27. Why Bitcoin May Speed Up the Transition to Renewable Energy
  28. Potential of Blockchain for Financial Inclusion in Nigeria


Proshare Nigeria Pvt. Ltd.

Related News - Monetary Policy

1.      Steady Growth in PSCE; Grew by 9.8% YoY in August 2021 to N33.4trn

2.     How to Stabilize the Naira - Ayo Teriba

3.     CBN Communique No. 138 of the MPC Meeting - Sep 16-17, 2021

4.     September 2021 MPC Meeting: CBN Retains All Policy Parameters

5.     Pre-MPC Note: Will Status Quo Be Maintained?

6.     A Winning Formula for MPC Members

7.     Personal Statements by the MPC Members at the 137 MPC Meeting of July 26-27, 2021

8.     Is the Economy Spiraling? - LBS Executive Breakfast Session - February 2021

9.     Total Value of Capital Importation into Nigeria Stood at US$1,069.68m in Q4 2020 - NBS

10.  Rebasing Nigeria's GDP: New National Accounts, More Services

11.   Diaspora Remittances in Nigeria: Examining the New CBN Policy (2)

12.  Diaspora Remittances in Nigeria: Examining The New CBN Policy (1)

13.  Inflationary Pressure Still Straining Pockets

14.  CBN Deals the House Card as Policy Rates Remain Unchanged

15.  CBN Communique No. 134 of the MPC Meeting - Jan 25-26, 2021

16.  MPC Holds All Policy Parameters at the End of Its First Meeting in 2021

17.  Monetary and Interest Rate Policy in 2021: Going for Growth

18.  CBN to Sustain Expansionary Monetary Policy Till Q1, 2021 - Cordros Securities

19.  Ten MPC Members, One Shared Outlook

20. Personal Statements By The MPC Members At The 133 MPC Meeting of Nov 23-24, 2020

21.  CBN Rolls the Dice to Tackle Market Liquidity and Dollar Dearth

22. Implications of CBN's Introduction of Its Special Bills to the Market

23. CBN Introduces Special Bills to Deepen the Financial Markets, An Additional Liquidity Mgmt Tool


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Related News