The Central Bank of Nigeria (CBN) has inaugurated eNaira wallet student ambassadors at the University of Jos in Plateau state, Nigeria. The initiative is a brainchild of the Central Bank Digital Currency (CBDC) and aims at boosting the country’s digital economy.
Speaking during the ceremony, Esther Tinat, Jos branch manager of the Apex bank, said that the initiative was launched in 2021, making Nigeria the first country in Africa to introduce the CBDC.
The eNaira, Tinat explained, is the electronic version of the Nigerian naira, bearing the same value as the physical fiat currency. Its introduction is not to replace cash but to provide a safe and efficient alternative means of payment.
The value of the eNaira, just like its physical counterpart, is liable to fluctuate in relation to the US dollar. Tinat urged Nigerians not to be left behind in the evolving global economy but to embrace such initiatives that would make transactions easier and safer.
