What is eNaira?
The eNaira is a digital currency initiative by the Central Bank of Nigeria (CBN), designed to be a digital representation of the Nigerian Naira (NGN). It is part of the broader global trend towards central bank digital currencies (CBDCs), which are digital versions of a country's official currency issued and regulated by the central bank.
Key points about the eNaira:
Digital Currency: The eNaira is a digital currency, which means it exists only in electronic form and is not issued as physical banknotes or coins. It is designed to be used for various digital transactions, including payments and transfers.
Central Bank Oversight: The eNaira is issued and regulated by the Central Bank of Nigeria (CBN). This ensures that it is backed by the central bank's reserves and operates within the regulatory framework set by the CBN.
Financial Inclusion: One of the goals of introducing the eNaira is to promote financial inclusion by providing a digital payment solution that can reach a wider segment of the population, including those who do not have access to traditional banking services.
Security: Digital currencies like the eNaira typically incorporate advanced security features to protect against counterfeiting and fraud. Transactions are recorded on a blockchain or similar technology for transparency and security.
Cross-Border Transactions: The eNaira facilitates cross-border transactions and trade by providing a digital currency that can be used for international payments, potentially reducing the reliance on foreign currencies for such transactions.
Accessibility: The eNaira is accessible through mobile apps, Web App and other digital platforms, making it easy for individuals and businesses to use for everyday transactions.
To download From PlayStore Click here eNaira Speed App Lite - Apps on Google Play
To download from App Store Click Here - eNaira Speed App Lite on the App Store (apple.com)
For support, Visit Home - eNaira Support
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