Nigeria’s eNaira Wallet Nears 500,000 Downloads in First 3 Weeks: Report

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More than 488,000 folks have downloaded the patron pockets for Nigeria’s central financial institution digital forex, the eNaira, in response to a Bloomberg report on Monday.

  • Launched on Oct. 25, the eNaira has been used for NGN 62 million ($150,000) in transactions, in response to Osita Nwanisobi, a spokesman for the central financial institution that the Bloomberg story cited.
  • Nigeria has minted about $1.2 million eNaira, central financial institution Governor Godwin Emefiele mentioned when the CBDC was launched.
  • Nwanisobi mentioned that 78,000 retailers from 160 international locations have signed up for the service provider pockets.
  • The eNaira was developed by Barbados-based Bitt, the fintech firm that additionally labored on Eastern Caribbean central financial institution’s digital forex.
  • Nigeria banned using cryptocurrencies in the nation in February.

Read extra: Nigeria’s CBDC: The Good, Bad and Ugly