African markets

Nigeria: eNaira records 694,000 downloads, 95 days after launch

eNaira, the digital currency issued by the Central Bank of Nigeria (CBN), recorded 694,000 downloads in the 95 days since its launch.

This was revealed by sources close to the information at the central bank.

eNaira, also recorded less than 10% of P2P transactions, while Person to Bank and Bank to Person transactions constitute 90% of eNaira transactions.

CBN said recorded eNaira transactions are P2P, i.e. person-to-person; or person-to-merchant, P2M; bank to person; From person to bank and from bank to merchants and from merchants to bank.

The eNaira is the CBDC of Nigeria and it is the digital equivalent of the physical naira. As the tagline simply sums it up, eNaira is the same naira with many more possibilities, according to apex bank

What you need to know about eNaira downloads

  • According to the source, overall iPhone (iOS) downloads totaled 136,000, while Android downloads totaled 558,000.
  • Guaranty Trust Bank led the pack in consumer wallet downloads, with 33%, and Ecobank led the pack in merchant wallet downloads, with 22%.
  • From North America to Australia, and across Africa, e-wallets have been uploaded, demonstrating global usage.
  • Furthermore, it showed that the app is also downloaded in South America, Europe, Asia and almost all countries in Africa.

Central Bank Governor Godwin Emefiele claimed at the last MPC meeting that the current eNaira rollout is aimed at banked Nigerians. He went on to say that the BVN is included as a requirement to prevent fraudsters from hacking into the system.