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Banks Begin Marketing Of eNaira To Customers

3 years ago
1 min read

INDICATIONS have emerged that Deposit Money Banks(DMBs) in Nigeria have started beckoning on the banking public to come for the eNaira wallet, which they said is available for download on Google Play Store and Apple App Store.

The Central Bank Digital Currency (CBDC), eNaira, went live on Monday following an official launch by President Muhammadu Buhari at the State House in Abuja.
A statement from one of the DMBs seen by Prime Business Africa on Tuesday read in part:
“Dear Valued Customer, the Central Bank of Nigeria has introduced a new digital currency eNaira. It 1s a
unique form of money that will serve as another medium of exchange and a store of value just like the existing Naira notes.

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“The eNaira wallets (Speed Wallet) allows you to transfer receive and spend eNaira using the Speed Wallet App, which will be available for download on Google Play Store and Apple App Store.

“All consumers can still be allowed to move money between their existing accounts and their respective eWalets and vice versa.

“You will be able to fund your eNaira wallet using the our Intemet Banking portal, the  Bank’s Mobile App and by visiting any of our branches nationwide.”

According to the banks, it shall be exchanged on a digital platform through the creation of Wallets for Individuals and Merchants. The eNaira has the same status with the existing Naira and has the same value.

While explaining step by step process of downloading and authenticating, the DMBs urges customers to “please ensure you register with the details tied to your BYN.”

Meanwhile, Naira was stable against the U.S. dollar at the official market on Monday and Tuesday as the government officially launched the digital currency (eNaira).

The performance stretched the currency’s stability to three consecutive days at the official market.
The digital currency was developed by fintech company Bitt, which is also behind the creation of CBDC in some East Caribbean countries.

Godwin Emefiele, the Central Bank of Nigeria governor, said 500 million eNaira ($1.21 million) had already been minted, and that of this figure, N200 million eNaira has already been issued to banks integrated on the platform.
The banks also warned that they shall not contact a customer either by phone or email to request for their  eNaira Wallet details, BVN or any other Banking detail.

“The creation of an eWaltet is solely at the discretion of individual customers and can be done by physical visit to a bank branch or by downloading the App from the respective online stores,” one of the new generation banks stated.

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