ADVERTISEMENT
TechEconomy
Thursday, June 5, 2025
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » CBN Revolutionizes eNaira Mobile App with NFC Technology

CBN Revolutionizes eNaira Mobile App with NFC Technology

Justice Godfrey Okamgba by Justice Godfrey Okamgba
July 25, 2023
in Digital Assets
0
CBN Revolutionizes eNaira Mobile App with NFC Technology

RelatedPosts

Investment Fraud Alert for Gen Z and millennia

Investment Fraud Alert for Gen Z, Millennials

June 2, 2025

Who’s Really Running the World’s Largest Economy?

May 31, 2025

The Central Bank of Nigeria (CBN) has reaffirmed its unwavering commitment to the central bank digital currency (CBDC) project, despite recent leadership changes.

In a strategic move to promote widespread adoption of the eNaira and enhance the functionality of the CBDC mobile app, the CBN has integrated Near Field Communication (NFC) technology for seamless and contactless payments, according to reports.

Previously, the eNaira mobile app relied on QR codes for transactions; however, with the integration of NFC technology, users can now experience convenient and secure interactions between their mobile devices and payment terminals.

NFC is a cutting-edge short-range wireless connectivity technology that utilizes magnetic field induction to enable swift and secure communication between devices.

At a recent eNaira sensitization workshop held at the University of Abuja, Joseph Angaye, the deputy director of the CBN’s risk management department, emphasized the importance of embracing technological advancements to foster economic growth.

He stated that this upgrade is expected to significantly boost the adoption rates for the CBDC, thus promoting a more digitally inclusive economy.

“The eNaira app has evolved to offer numerous benefits to users. In a rapidly digitizing world, the CBN is committed to staying at the forefront of technological innovation.

We were among the pioneers in launching the eNaira app, and now, with the addition of NFC technology, we have further enhanced its practicality and functionality,” said Angaye.

The programmable features of the eNaira app provide immense versatility, enabling it to be tailored for specific locations or purposes.

This flexibility proves particularly valuable for executing targeted intervention programs, ensuring funds are directed towards intended purposes and minimizing the risk of misuse or diversion.

Angaye further elaborated, “The beauty of the eNaira lies in its efficiency and safety. The incorporation of NFC technology addresses concerns related to transaction speed and settlement risks, enhancing user confidence in our CBDC.”

Since its launch in 2021, Nigeria has been among the pioneers in the global CBDC landscape, taking significant strides to drive adoption.

Despite initial challenges in meeting projected uptake, the CBN has proactively introduced use cases in the transport sector and integrated USSD functionality into the eNaira offering. These efforts reflect the CBN’s commitment to fostering a thriving digital economy.

It is essential to recall that in 2021, Nigeria’s central bank imposed restrictions on banks and financial institutions from facilitating digital currency transactions.

Nonetheless, the vibrant digital currency ecosystem in the country, coupled with the introduction of the eNaira, has resulted in Nigeria ranking among the largest volume of digital token transactions on peer-to-peer trading platforms globally.

Loading

Advertisements
MTN ADS

Author

  • Justice Godfrey Okamgba
    Justice Godfrey Okamgba

    View all posts
0Shares
Tags: CBDCCBNdigital marketingdigital transformationeeNaira
Previous Post

MALA Introduces Next-Level Digital Directory for African Businesses

Next Post

Cross-Functional Leadership and Stakeholder Management | by; Glory Ikeke

Justice Godfrey Okamgba

Justice Godfrey Okamgba

Related Posts

Investment Fraud Alert for Gen Z and millennia
Digital Assets

Investment Fraud Alert for Gen Z, Millennials

by Destiny Eseaga
June 2, 2025
0

Gen Z and Millennials are entering the investment world at unprecedented rates. Around 30% of Gen Z began investing in university or...

Read more
World’s Largest Economy

Who’s Really Running the World’s Largest Economy?

May 31, 2025
Dogecoin

6 Ways to Sell Dogecoin in Nigeria Legally and at the Best Rates

May 29, 2025
Bitcoin is Now a 'Safe-Haven Coin' of the Crypto Market, says OCTA

Bitcoin is Now a ‘Safe-Haven Coin’ of the Crypto Market, says Octa Broker

May 29, 2025
MEXC DEX+ Super Fest

MEXC Launches DEX+ Super Fest with Multiple Rewards and Fee Rebates

May 28, 2025
Trump Media Secures $2.5 Billion to Build Bitcoin Treasury

Trump Media Secures $2.5 Billion to Build Bitcoin Treasury

May 27, 2025
Next Post
GLORY IKEKE - Stakeholder Management expert

Cross-Functional Leadership and Stakeholder Management | by; Glory Ikeke

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

TECH TALK EPISODE 2
byTecheconomy

PRODUCTIVITY AND WORK-Life Balance

TECH TALK EPISODE 2
TECH TALK EPISODE 2
May 22, 2025
Techeconomy
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

© 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

© 2025 Techeconomy - Designed by Opimedia.

Translate »
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.