CBN postpones launch of e-Naira

The Central Bank of Nigeria (CBN) has postponed the much-anticipated launch of Nigeria’s Central Bank Digital Currency dubbed eNaira.

The CBN’s Director of Corporate Communications, Mr Osita Nwanisobi, announced this in Abuja.

Nwanisobi stated that the CBN took the decision to postpone the launch, which had been initially planned to coincide with the Independence Day anniversary, (October 1) in consideration of other activities lined up to commemorate the day.

“The CBN took the decision to postpone the launch, which had been initially planned to coincide with the Independence anniversary, in deference to the mood of national rededication to the collective dream of One Nigeria,”  Nwanisobi noted in a statement.

Assuring that there is no cause for concern, he stated that the CBN and other partners are dedicated to ensuring a smooth process that benefits customers in general, particularly those in rural regions and the unbanked.

The postponement also comes in the wake of a cease and desist notification sent to the CBN concerning the use of the name “eNaira.”

According to a document titled “Infringement of Trademark & Violation of Corporate Name: Cease and Desist Notification to the Central Bank of Nigeria,” the  notice was signed by Olakunle Agbebi Esq for Olakunle Agbebi & Co .

Meanwhile, on the eNaira’s advantages, Nwanisobi stated that Nigerians will be able to send money to each other’s eNaira wallets as well as pay for goods and services at selected merchants.

“The eNaira will limit the use of currency and ensure the Nigerian economy’s stability,” he assured.

In response to questions about banks, financial institutions, and other financial ecosystem stakeholders’ readiness for the introduction of the eNaira, he reaffirmed that the digital currency is a journey and that not all bank customers will be able to transact on the day of its debut.

Amaka E. Nliam/Nairametrics