SmartPreneur
Advertisement
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
SmartPreneur
No Result
View All Result
Home Trending News

eNaira Wallets’ Downloads Near 700,000 After Three Months Of Its Launch

Blessing Osazuwa by Blessing Osazuwa
February 1, 2022
in Trending News
0
eNaira Wallets’ Downloads Near 700,000 After Three Months Of Its Launch
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The Central Bank of Nigeria (CBN) digital currency, eNaira, has continued to attract the interest of Nigeria’s banking public at home and across the world, with its total downloads hitting 694,000 exactly 95 days after it was unveiled.

Join our communityJoin our communityJoin our community

The total downloads via iPhone Operating System (iOS) stood at 136,000, while that of Android was 558,000.

“Downloads have continued to increase to almost 700,000. ENaira wallets were downloaded from North America to Australia and all over Africa,” the analysis stated.

Furthermore, it showed that the app was also downloaded in South America, Europe, Asia, and in almost all the countries in Africa.

President Muhammadu Buhari launched the digital currency on October 25, 2021.

Buhari had said with the eNaira, the country’s Gross Domestic Product (GDP) was projected to rise by $29 billion in the next 10 years. He had stressed that Nigeria was the first country in Africa and one of the first in the world to introduce digital currency.

The president had stated, “Indeed, some estimates indicate that the adoption of Central Bank Digital Currency (CBDC) and its underlying technology, called blockchain, can increase Nigeria’s GDP by US$29 billion over the next 10 years.

“CBDCs can also help increase remittances, foster cross border trade, improve financial inclusion, make monetary policy more effective, and enable the government to send direct payments to citizens eligible for specific welfare programmes.”

CBN Governor, Mr. Godwin Emefiele, also said the eNaira would support a resilient payment ecosystem, encourage rapid financial inclusion, reduce the cost of processing cash, enable direct and transparent welfare intervention to citizens, and increase revenue and tax collection.

Emefiele added, “Therefore, the eNaira is Nigeria’s CBDC and it is the digital equivalent of the physical naira. As the tagline simply encapsulates, the eNaira is the same naira with far more possibilities.

“The eNaira – like the physical naira – is a legal tender in Nigeria and a liability of the CBN. The eNaira and naira will have the same value and will always be exchanged at one naira to one eNaira.”

The International Monetary Fund (IMF) noted recently that the eNaira had been “drawing substantial interest from the outside world” since it was unveiled.

However, IMF pointed out that, like digital currencies elsewhere, eNaira carried risks for monetary policy implementation, cyber security, operational resilience, and financial integrity and stability. It noted that although the digital currency was expected to increase financial inclusion and facilitate remittances, CBN should be prepared to manage the potential risk associated with managing a digital currency.

Tags: Central Bank of NigeriaDigital currencyeNaira
Previous Post

3 Ways You Can Use Artificial Intelligence To Completely Improve Your Business

Next Post

100 for 100 Initiative: CBN Disburses N23bn To 28 Companies

Blessing Osazuwa

Blessing Osazuwa

Blessing does the research to bring you needed information for success.

Related Posts

Win Free Product Shoot In the #CaptureMyBusiness Challenge
Trending News

Win Free Product Shoot In the #CaptureMyBusiness Challenge

by Blessing Osazuwa
March 24, 2023
0

Smartpreneur, in partnership with Emblue Space and Studios, is offering an opportunity for female business owners to take their businesses...

Read more
Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31
Trending News

Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

by Ruth Okwumbu-Imafidon
March 24, 2023
0

In today's fast-paced and rapidly changing economy in the country and the globe, it has become more important for today’s...

Read more
Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.
Trending News

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

by Ruth Okwumbu-Imafidon
March 22, 2023
0

Nigerians using MailChimp will have to pay 7.5% more from April 20, 2023, as the company is set to implement...

Read more
The New CBN Cash Withdrawal Policy; What will happen to MSMEs now?
Trending News

CBN Increases Lending Rate to 18%

by Ruth Okwumbu-Imafidon
March 22, 2023
0

In an aggressive push to contain the nation’s inflationary pressure, the Central Bank of Nigeria on Tuesday raised its benchmark...

Read more
NCC Directs Mobile Network Operators To Implement Harmoniesed Short Codes
Trending News

NCC Directs Mobile Network Operators To Implement Harmoniesed Short Codes

by Ruth Okwumbu-Imafidon
March 20, 2023
0

The Nigerian Communications Commission (NCC) has directed all mobile network operators (MNOs) to commence the implementation of the approved harmonized...

Read more
Naira Redesign Policy: Nigeria’s GDP Projected To Drop In Q1 2023 By About N10 Trillion
Trending News

Naira Redesign Policy: Nigeria’s GDP Projected To Drop In Q1 2023 By About N10 Trillion

by Ruth Okwumbu-Imafidon
March 20, 2023
0

Oyeyemi Kale, former statistician-general of the federation, says Nigeria’s gross domestic product (GDP) would contract in the first quarter (Q1)...

Read more
50,000 African Women to Benefit from $100m AfriLabs Business Grant
Trending News

50,000 African Women to Benefit from $100m AfriLabs Business Grant

by Ruth Okwumbu-Imafidon
March 17, 2023
0

ne of the largest communities of innovation enablers, AfriLabs, has announced that it would be supporting 50,000 African women through...

Read more
Load More
Next Post
100 for 100 Initiative: CBN Disburses N23bn To 28 Companies

100 for 100 Initiative: CBN Disburses N23bn To 28 Companies

Please login to join discussion

Recent News

Win Free Product Shoot In the #CaptureMyBusiness Challenge

Win Free Product Shoot In the #CaptureMyBusiness Challenge

March 24, 2023
Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

March 24, 2023
Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

March 22, 2023
The Power of High-Quality Product Photos for Boosting Your Ecommerce Site's Success

High-Quality Photos: The power of visuals in Boosting Your Ecommerce Business

March 22, 2023
SmartPreneur

© 2020 SmartPreneur

Navigate Site

  • Home
  • Trending News
  • Radio
  • Games & Quizzes
  • TV

Follow Us

No Result
View All Result
  • Home
  • Trending News
  • Radio
  • TV
  • Hustle Life
  • Brand Insights
  • Profiles
  • Game & Quizzes
  • Weekend Teaser

© 2020 SmartPreneur