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    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

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    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

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    Flutterwave gets Switching and Processing licence from CBN

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    Google Expands its Digital Wallet to South Africa

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    FCCPC Orders Drawdown of Online Credit Companies

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    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

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    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

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    Flutterwave debunks Alleged Reports of Hacked Accounts

    Flutterwave debunks Alleged Reports of Hacked Accounts

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

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    PICTDA announces Resumption Date for Code Plateau Cohort

    PICTDA announces Resumption Date for Code Plateau Cohort

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

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    Nigeria’s Cash Swap Policy: Goals versus Results

    Nigeria’s Cash Swap Policy: Goals versus Results

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

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    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    The Increase in Data Prices is a Big Challenge for Remote Workers in Nigeria

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

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  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

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    Bundle Launches Web App to Give Users More Accessibility to Crypto

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    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

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    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

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    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

    Sky.Garden survives Shutdown, gets New Owners

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Home FINANCE

ECOBANK Commences Sensitisation Of eNaira To Its Customers

by Nuel Umahi
November 11, 2021
in FINANCE, News
Reading Time: 3 mins read
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ECOBANK Commences Sensitisation Of eNaira To Its Customers
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Following the launch of the digital currency, eNaira on the 25th of October, 2021, Ecobank Nigeria – one of Nigeria’s largest commercial banking institution has commenced an intensive sensitisation for its customers in the inherent benefits of eNaira.

eNaira is a Central Bank Digital Currency (CBDC) issued by the apex bank as a legal tender. It is the digital form of the naira and will be used just like cash while the e-Naira wallet is a digital storage that holds the eNaira. The eNaira wallet is required to access, hold, and use the eNaira.

The Head, Consumer Banking of Ecobank, Olukorede Demola-Adeniyi, said that the bank decided to create massive awareness among its customers because of the benefits to both individuals and businesses, disclosing that the bank has also created a dedicated information page for customers to access vital information regarding the policy and how they can easily sign up for the wallet

Per Nairametrics, Mrs. Olukorede stated that the digital currency, eNaira has the same value as the physical naira and it guarantees safety.

“e-Naira is the Nigerian digital currency issued and regulated by the Central Bank of Nigeria (CBN). It has the same value as the physical naira and guarantees simple, safe, and fast transfers and payments anytime and anywhere. Think of it as the same Naira but digital, borderless, and with more possibilities,” Mrs. Olukorede said.

Furthermore, she listed other benefits of eNaira to include support to the digital economy thereby leading to improved economic activities. Olukorede noted that it will also simplify and facilitate easy cross-border payments and trade.

Mrs. Olukorede stated that the eNaira will bring about financial inclusion and improve effectiveness of monetary policies, reiterating that the eNaira will circulate alongside cash, as it will complement cash as a less costly, more efficient, generally accepted, safe, and trusted means of payment.

To sign up for the eNaira, she urged customers of the bank to visit the Google Play Store or Apple AppStore to download the e-Naira Speed Wallet or Merchant Speed Wallet App; click on sign up, select Ecobank and enter the required information.

She noted that Ecobank has carried out various sensitization activities both internally and externally. Mrs. Olukorede confirmed that the Ecobank mobile app has the eNaira menu under the transfers section to facilitate easier digital payments.

In addition, customers can fund their wallets directly from the Ecobank Mobile app. She enjoined merchants, especially, to sign up the e-Naira Merchant Speed Wallet App to enable them receive payments seamlessly and position their business for better profitability.

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