2021-10-25 | FPR/DIR/PUB/CIR/001/023

Regulatory Guidelines on the eNAIRA

The Central Bank of Nigeria (CBN) has issued guidelines for the operation of the eNaira, the country's digital currency. The eNaira is a direct liability of the CBN, complementing the physical Naira as a more efficient, safe, and trusted means of payment. The eNaira platform consists of various wallets for different stakeholders, including financial institutions, merchants, and consumers. The CBN will exclusively mint, issue, distribute, redeem, and destroy the eNaira, while financial institutions act as intermediaries. The onboarding process varies for each participant, and transaction charges will be free for the first 90 days.

Nigeria

Central Bank of Nigeria

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