eNaira is a digital currency and is a direct liability on the Central Bank of Nigeria while the money in your bank account is Naira held as deposit liabilities by the financial institution. eNaira is a fast, affordable, secure, and reliable payment option designed to support the digital economy and aid financial inclusion in Nigeria.

eNaira will, among other benefits, enhance the Nigerian payment ecosystem, increase revenue and tax collection, aid targeted social interventions, and improve diaspora remittances. Users can make contactless payments with eNaira by scanning a QR code.

No. eNaira will circulate alongside cash as a more efficient, safe, and cost-saving payment option.

Funding of your eNaira wallet can be done through your regular bank app from your bank account and via cash through an eNaira verification agent, over the counter at designated bank branch or a SANEF agent. (SANEF means Shared Agent Network Expansion Facilities)

 eNaira is safe and secured with advanced cryptographic techniques against counterfeiting, cloning and other forms of breaches. The eNaira wallet operates an open system that is accessible to all users based on a tiered KYC structure.

Data protection and privacy remains fundamental to the core design of the eNaira system and users will be able to determine how their data is used, shared and processed.

Ten more things to know about eNaira;

1. #eNaira is the first digital currency in Africa, 6th in the world.

2. Customers can now move money from their bank account to their eNaira wallet with ease.

3. It is held and managed on a wallet

4. It can be used for remittance, which includes a cheaper diaspora remittance option.

5. It is traceable so fraudulent activities can be traced. which make it save for transaction 

6. Payments can be made by scanning QR codes.

7. It can be used for international and local trades.

8. Allows users to send money to one another through a linked bank account or card.

9. You can link more than one account on your eNaira wallet

10. Customers can monitor their eNaira wallet, check balances and view transaction history.

11. Customers can make in-store payment using their eNaira wallet by scanning QR codes.