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Despite CBN’s postponement, banks begin integrating e-Naira feature

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Despite the postponement of the launch of Nigeria’s digital currency by the CBN, some commercial banks have started integrating the e-Naira feature on their applications.

The Guaranty Trust World (GTB) is one the banks with the fresh integration of the e-Naira feature on its app.

And when opened, the bank’s message read, “Kindly note that you will need to download and onboard on the CBN e-Naira speed wallet app to create your e-Naira username and password.”

Also, Stanbic IBTC Bank sent a message to consumers stating that the eNaira will be available on its digital platforms in readiness for the CBN’s official launch.

The message read: “We wish to inform you that we have made the e-Naira available on our digital banking platforms for easy access and use.

This new capability will be available on our platforms in readiness for the CBN’s official launch in Nigeria on Friday, 01 October 2021.”

Meanwhile, Mr. Osita Nwanisobi, CBN’s Director of Communication, announced a postponement of the launch of Nigeria’s digital currency, the eNaira, previously scheduled to hold on October 1, 2021.

Read the full message of the CBN’s Director of Communication below:

Ahead of the anticipated launch of Nigeria’s Central Bank Digital Currency (CBDC), known as eNaira, the Spokesman of the Central bank of Nigeria (CBN), 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.

Speaking with newsmen in Abuja on Thursday, September 30, 2021, Nwanisobi explained that the CBN took the decision to postpone the launch, which had been initially planned to coincide with the Independence anniversary, in deference to the mood of national rededication to the collective dream of One Nigeria.

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While assuring that there was no cause for alarm, he said 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.

Highlighting the benefits of the eNaira, Nwanisobi stressed that Nigerians would be able to carry out peer-to-peer transfer to another person’s eNaira wallet as well as pay for goods and services at selected merchants. He added that the eNaira would also help reduce the use of cash and ensure stability of the Nigerian economy.

On the readiness of banks and other financial institutions in the financial ecosystem for the launch of the eNaira, he reiterated that eNaira was a journey, explaining that not all banks customers were expected to commence transaction on the day of the launch.

He, however, assured that financial institutions in Nigeria remained key actors and were a critical part of the Central Bank Digital Currency (CBDC).

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