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The eNaira is the Nigerian digital currency that is issued and regulated by the Central Bank of Nigeria. 

Firstly, the aim of e-Naira is to help Organizations and individuals who are seeking fast, safe, easy, and cheap means of payment.
eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira. eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments. eNaira has an entire operational structure that is remarkable and nothing like other forms of central bank money.


There are several benefits and this cuts across different sectors and concerns of the economy.

eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments.


Some benefits of eNaira

  • Growth: eNaira fosters Economic Growth by offering easier access to capital and financial services thereby increasing economic activities at low/no interest transaction rates.

  • Remittance: eNaira provides a secure and cheaper diaspora Remittance option and an increase in the speed of such transactions.

  • Monitoring: eNaira’s traceability limits its use for illicit or fraudulent purposes.

  • Welfare: eNaira enables the effective and faster distribution of cash assistance to households and communities included in government Social Welfare Programs.

  • Inclusion: eNaira provides Financial Inclusion by making financial services available to people or communities who do not have (enough) banking opportunities.

  • Trade: eNaira increases Local and International Trade by making transactions cheap, safe, quick, and better.

  • Security: eNaira has stronger security because it cannot be forged or counterfeited due to its unique identity and security structure.

  • Revenue: eNaira aids Revenue collection by reducing cash handling costs.




Its functionality delivers speedy, safe, and simple trading and transactional opportunities to customers and end-users:

  • It is exchanged peer to peer.

  • It is universal - anybody can transact with it.

  • It does not yield any interest.

eNaira Features

  • Unified Payment System: Customers can now move money from their bank account to their eNaira wallet with ease.

  • Contactless Payment: Customers can make in-store payments using their eNaira wallet by scanning QR codes.

  • Bank Account Management: Customers can monitor their eNaira wallet, check balances and view transaction history.

  • Peer-to-Peer Payment: Allows users to send money to one another through a linked bank account or card.

  • Sending/Receiving Money: Customers can now send and receive money faster, easier, and at very minimal costs.

  • Verifying Payments: Customers can verify their payments and look up their transaction history anytime, anywhere.

  • Financial Institutions Transactions: Intra/inter financial institutions transactions are not only possible, but they are also faster and cheaper.

  • Foreign Exchange Transactions: Customers can enjoy speedy transactions across boundaries and hitch-free foreign exchange.


Get Started in 4 Easy Steps

  1. Download eNaira Speed Wallet. From your Google Play Store or Apple App Store.

  2. Select the Bank of your choice, From the list of Banks provided.

  3. Authenticate yourself.

  4. And you are good to go.


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