CBN Postpones Launch of eNaira

A postponement notification has been served to the general public in view to the much anticipated launch of Nigeria’s digital currency by the Central Bank of Nigeria (CBN) known as eNaira scheduled for October 1st.

The postponement was announced in Abuja on Thursday, the 30th of September, 2021 by Mr Osita Nwanisobi, the apex bank’s Director of Corporate Communications.

Mr. 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.

The postponement also comes in the wake of a cease and desist notification sent to the Central Bank of Nigeria (CBN) concerning the use of the name “eNaira.”

READ ALSO: eNaira: Company drags CBN to court over “trademark infringement”.

“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,” Nwanisobi said in a statement in Abuja.

Assuring the general public 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.

Also, in regards to the looming lawsuit, the apex bank is yet to respond publicly.