eNaira: CBN launch eNaira – See how e dey different from your regular bank account

Central Bank of Nigeria don launch eNaira website wey be di kontri first digital currency platform.

CBN say eNaira go provide “unique form of money wey dey denominated in Naira”.

Dis one mean say as legal tender, pesin fit use di digital form of di Naira like cash to buy things.

Initially, CBN bin plan to launch di website www.enaira.com on October 1 wey be Nigeria Independence day but now di website don go live.

According to di website, CBN say “eNaira go increase local and International Trade by making transactions cheap, safe, quick and better.”

But di question wey dey for so many Nigerians mind na how dis digital currency go dey different from regular bank accounts?

How eNaira dey different from your bank account

CBN say di eNaira na direct liability on di Central Bank of Nigeria while di customer deposits na direct liabilities on financial institutions.

Dem say di eNaira go get di same value as physical naira. E no go replace cash and go circulate alongside am.

“Di eNaira go complement cash as a less costly, more efficient, generally accepted, safe, and trusted means of payment.”

Wetin be di benefit of eNaira?

Such launch of di eNaira dey come at a time di appex bank for Naira don ban other digital currency transactions for di kontri like cryptocurrency.

But di CBN don argue say di eNaira app wey dem launch so go support Nigeria digital economy.

Dem say di eNaira benefits go dey “fast, cheap, reliable and e go be available payment channel.”

“E go also improve effectiveness of monitary policies and go ease tax remittance and collection,” CBN add.

One tin to note about di eNaira na say dem no dey offer any interest rates, unlike fintech platforms.

We eye still dey for dis tori, more dey come.