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PMB to launch eNaira Monday

President Muhammadu Buhari will launch eNaira, Nigeria’s first digital currency, on Monday.

CBN’s spokesperson, Osita Nwasinobi, said in a statement on Saturday that the launch was the result of years of study by the apex bank into pushing the frontiers of payment systems to make financial transactions easier.

“The eNaira represents a significant advancement in the evolution of money, and the CBN is dedicated to ensuring that the eNaira, like the physical Naira, is available to all.”

He stated that the CBN would continue to collaborate with key partners to create a seamless procedure that would benefit all users, particularly those in rural areas and the unbanked people.

Because the eNaira is a novel product and one of the world’s first CBDCs, we have put in place a mechanism to resolve any issues that may occur during the pilot implementation of the eNaira, Osita added

The eNaira launch theme is ‘Same Naira, More Possibilities.’

The top bank had postponed the eNaira’s launch on October 1 due to significant festivities planned for the country’s 61st independence day.