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CBN postpones launch of E-Naira

The Central bank of Nigeria says it has postponed the unveiling of the Digital Currency, the E-Naira earlier scheduled for October 1, 2021 due to other key activities lined up to commemorate the country’s 61st Independence Anniversary.

The Bank’s spokesman, Mr. Osuta Nwanisobi said that the CBN took the decision to postpone the launch, because it coincided with the Independence anniversary and the collective dream of One Nigeria.

While assuring that there was no cause for alarm, he said the CBN and other partners were working round the clock to ensure a seamless process that would be for the overall benefit of the customer, particularly those in the rural areas and the unbanked population.

On the readiness of banks and other financial institutions in the financial ecosystem for the launch of the e-Naira, he reiterated that eNaira was a journey, and that not all banks customers were expected to commence transaction on the day of the launch.

Mr.Nwanisobi, however, assured that financial institutions in Nigeria remained key actors and were a critical part of the Central Bank Digital Currency (CBDC).

Mr.Nwanisobi also noted that the CBN was mindful of concerns expressed about the eNaira, being among the first CBDCs in the world.

According to him, the Bank had put a structure in place to promptly address any issue that might arise from the pilot implementation of the eNaira.

Reporting by Biodun Dare, Adeniyi Bakare