Banking

eNaira hits $9m transactions, 840k downloads

The eNaira has recorded ₦4 billion ($9.3 million ) transactions and 840,000 app downloads, Gadgets Africa reports.

This comes a few days after the Governor of the Central Bank of Nigeria, Godwin Emefiele, disclosed that eNaira will be available on  Unstructured Supplementary Service Data.

According to Tech Cabal, the CBN governor, Godwin Emefiele, stated that over 200,000 transactions valued at ₦4 billion have been made on the platform.

The e-naira app has reached 840,000 downloads, with about 270,000 active wallets comprising over 252,000 consumer wallets, and 17,000 merchant wallets.

However, the publication argued that it’s not enough for Emefiele and the CBN.

“After completing the first [launch] phase of the CBDC, the Nigerian government plans to get 8 million active subscribers in a second implementation phase that includes launching USSD transactions.

“Most digital currencies are unavailable to Africans because they require smartphones and internet access. Nigeria’s internet penetration rate is at 37.3% while less than 40 million have smartphones. This means over 100 million Nigerians are excluded from digital initiatives like the e-naira.

“With USSD though, things will change. CBN plans to achieve its 8 million targets by allowing more Nigerians—especially those without access to digitisation—to access the e-naira. Over the next couple of weeks, Nigerians can create, fund, and use e-naira wallets by dialling *997#.”

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