The Central Bank of Nigeria have revealed that the eNaira – Africa’s first digital currency has completed N46.3 million worth of transactions within the first two weeks of its launch.
This was disclosed by a senior official of the Central Bank of Nigeria (CBN) to the Financial Times.Irrespective of the hurdles on the road, the CBN’s acceptance of technology to adequately address financial inclusion into the country has received appraisals from home and abroad.
Many had commended the introduction of eNaira, but a few are in doubts in that regard, claiming that the eNaira has a lot of clauses to it.
Per Financial Times, the digital currency’s first week and a half was deemed a “resounding success” with a distinctive figure of 400,000 new wallets registered and clients making 12,500 transactions worth N46.3 million ($113,000).
This is however a success in spite of the customer’s complaints about the time-consuming sign-up process. Noting that the digital currency, eNaira made its debut on the 25th of October 2021 and had over 200,000 downloads 24 hours after launch.
A few days after, the eNaira speed wallet disappeared from the Android Play Store, raising concerns among Nigerians. The problem was quickly resolved, however.
The CBN has urged all Nigerians to embrace the eNaira saying that it is more reliable than cryptocurrencies.Futhermore, CBN’s technical partner, Bitt Inc has announced plans to roll out a new mobile application that allows the unbanked population to access eNaira.