President Muhammadu Buhari is scheduled to unveil the e-Naira on Monday, the Central Bank of Nigeria said on Saturday.
The digital currency was initially slated for public presentation on October 1 but the CBN shelved the plans citing key activities lined up for Independence Day.
But according to a statement by CBN’s Director of Corporate Communications, Osita Nwanisobi it is now expected to be activated on Monday.
The statement read:
“President Muhammadu Buhari is scheduled to formally unveil the Nigerian Central Bank Digital Currency (CBDC), known as the e-Naira, on Monday 25 October 2021, at the State House, Abuja.
“The launch of the e-Naira is a culmination of several years of research work by the Central Bank of Nigeria in advancing the boundaries of payments system in order to make financial transactions easier and seamless for every strata of the society.
“Following series of engagements with relevant stakeholders including the banking community, fintech operators, merchants and indeed, a cross section of Nigerians, the CBN designed the digital currency, which shall be activated on Monday, October 25, 2021.
“The e-Naira therefore marks a major step forward in the evolution of money and the CBN is committed to ensuring that the e-Naira, like the physical Naira, is accessible by everyone.
“Given that the e-Naira is a journey, the unveiling marks the first step in that journey, which will continue with a series of further modifications, capabilities and enhancements to the platforms.
“The CBN will continue to work with relevant partners to ensure a seamless process that will benefit every user, particularly those in the rural areas and the unbanked population.
“Since the e-Naira is a new product, and amongst the first CBDCs in the world, we have put a structure to promptly address any issue that might arise from the pilot implementation of the e-Naira.
“Accordingly, following Monday’s formal launch by the President, the Bank will further engage various stakeholders as we enter a new age consistent with global financial advancement.
“The theme of the -Naira is: “Same Naira, more possibilities”.
