What is Nigeria's eNaira?

eNaira is a Central Bank Digital Currency issued by the Nigerian government that provides a unique form of money denominated in Naira.

eNaira serves as both a medium of exchange and a store of value, offering potentially better payment prospects in retail transactions when compared to cash payments.

The eNaira was minted to help organizations and individuals who were seeking fast, safe, easy, and cheaper means of payments.

As of August 2022 the eNaira app had been downloaded 840,000 times and had 270,000 active wallets, an upward growth trajectory is still expected.