Nairabreed /Your N0 1 information Hub

The Central Bank of Nigeria’s eNaira website has gone live ahead of the October 1 official launch.

According to the website, www.enaira.com, “eNaira is a CB -issued digital currency that provides a unique form of money denominated in Naira.”

Find out what makes the eNaira different from the money in your bank account — according to the apex bank itself.

What is eNaira?

eNaira is a central bank digital currency (CBDC) issued by the Central Bank of Nigeria as a legal tender. It is the digital form of the Naira and will be used just like cash.

What is an eNaira wallet?

The eNaira wallet is a digital storage that holds the eNaira. It is held and managed on a distributed ledger.

The eNaira wallet is required to access, hold and use eNaira.

Is eNaira wallet safe?

Yes. The eNaira system uses a two-factor authentication system in addition to cryptographic encryption to ensure the safety of customers’ wallets and the eNaira holding.

How are eNaira wallets created?

For smartphone users, download the eNaira app (termed “Speed”) from either the Google Play Store or Apple Store and complete the registration process.

For feature phone users, utilize USSD codes and follow the registration prompts.

How do I connect my eNaira wallet to my bank account?

The eNaira app allows customers to identify a bank of their choice, connect to their bank accounts and perform transactions.

What makes eNaira different from the money in my bank account?

eNaira is the digital form of the cash and is a direct liability on the Central Bank of Nigeria while the customer deposits are direct liabilities on the financial institutions.

How do I resolve failed transactions or raise enquiries on eNaira?

Reach out to the customer support of the bank you selected when registering for eNaira through their available channels which include: phone, email, whatsapp, etc. Disputes will be resolved as soon as possible.

If issues are not resolved within 48 hours, send an email to CBN’s eNaira Customer Support via helpdesk@enaira.com

What are the different tiers of eNaira wallets that I can open as an individual?

These are different tiers of wallets and they include:

As of June ending, Nigerian banks had refunded N89.2 billion customers money illegally taken, claims Central Bank governor Godwin Emefiele on Thursday.

Mr Emefiele, who spoke at a CBN Fair held simultaneously in Cross River and Akwa Ibom, said the monies were returned after customers’ complaints.

Represented by Osita Nwanisobi, spokesman for the CBN, the governor said the cumulative number of complaints from customers of banks as of June was 23,526 while 22,173 were resolved.

According to him, the fair became necessary to create awareness on CBN interventions and how it was impacting on the lives and businesses of the people.

“When the CBN governor assumed duty as the 11th governor of the apex bank, he made a profound statement that he wants a people centred CBN and you cannot have that if you do not engage.

“Also, CBN has about 37 targeted interventions which includes The Targeted Credit Facility, Health Sector Intervention, Commercial Agric Credit Scheme, Nigerian Electricity Market Stabilisation Fund and others.

“In addition, we want to use this opportunity to build the confidence of Nigerians that the nation’s financial institutions are resilient, stable and safe.

“Nigerians have nothing to fear as the CBN carries out a periodic examination of the banks,” he said.

On the issue of digital currency by the CBN, the governor asserted that Nigerians needed to understand that crypto currencies are issued by unknown entities without regulations.

He added that the digital currency which CBN intends to issue would be regulated by the apex bank and it can be used for the nation’s monetary policy.

In his remarks, Daramola Atanda, Head, Consumer Protection Department of the CBN, noted that Nigerians must know their rights as customers and report cases of violations to the CBN on 07002255226 or cpd@cbn.gov.ng.

Mr Atanda however asked bank customers to be responsible as there were issues that were in their own purview; such as understanding the package given to them by a bank.

He also appealed to customers to ensure that they repay their loans and also protect their financial instruments such as their debit cards and others.

Speaking virtually from Uyo, Amina Abdulmalik from the Currency Operations Department of the CBN, called on Nigerians to handle the naira with care as it was a national pride.

“Our naira notes are supposed to last for about two years after printing but due to poor handling, some of them do not last for more than three months,” she said.

Labels : CBN

e-Naira- What makes eNaira different from money in your bank account

Banks Refunded N89.2 Billion Illegally Taken Customers As Of June - CBN

e-Naira- What makes eNaira different from money in your bank account

Banks Refunded N89.2 Billion Illegally Taken Customers As Of June - CBN