The Central Bank of Nigeria says it has postponed the unveiling of the country’s first digital currency, eNaira, citing key activities lined up for Nigeria’s independence anniversary.
With a view to expanding the financial horizons of Nigerian commercial facilities, the apex bank had informed citizens to download the eNaira app on their mobile gadgets from today, October 1, 2021.
But Osita Nwasinobi, spokesperson of the CBN, in a statement on Thursday, said the suspension of the launch was in deference to the mood of national rededication to the collective dream of One Nigeria.
“Ahead of the anticipated launch of Nigeria’s Central Bank Digital Currency, known as eNaira, the Spokesman of the Central bank of Nigeria, Mr. Osita Nwanisobi, says the planned unveiling on October 1, 2021, has now been deferred due to other key activities lined up to commemorate the country’s 61st Independence Anniversary,” the statement reads.
However it should benoted that this could also be as a result of the suit file by ENaira Payment Solutions Limited instituted, a suit before a federal high court against the Central Bank of Nigeria over the name “eNaira.”The firm, through its lawyers, accused the CBN of trademark infringement, notifying it to desist from using the proposed name.
Nwasinobi assured that there is no cause for alarm, saying the CBN and other partners were working round the clock to ensure a seamless process that will be for the “overall benefit of the customer, particularly those in the rural areas and the unbanked population”.
He stressed that the digital currency would ease peer-to-peer transfer, pay for goods and services at selected merchants once launched.
The CBN director added that the apex bank had put a structure in place to promptly address any issue that might arise from the pilot implementation of the eNaira.
On the readiness of banks and other financial institutions in the financial ecosystem for the launch of the eNaira, he reiterated that the digital currency was a journey.
No new date has been announced for the launch.