Due to legal issues, the CBN has delayed the introduction of the eNaira

eNaira Digital Currency

The Central Bank of Nigeria has announced that the launch of the country’s first digital currency, eNaira, has been postponed due to important activities planned for Nigeria’s independence day.

The central bank had advised citizens to download the eNaira app on their mobile devices beginning October 1, 2021.

However, Osita Nwasinobi, the CBN’s spokeswoman, said in a statement on Thursday that the launch had been postponed due to the spirit of national rededication to the common ideal of One Nigeria.

This comes only a day after eNaira Payment Solutions Limited filed a lawsuit against the Central Bank of Nigeria in a federal high court over the term “eNaira.”

The company, through its lawyers, accused the CBN of trademark infringement and requested that the planned name be discontinued.

“Ahead of the anticipated launch of Nigeria’s Central Bank Digital Currency, known as eNaira, Mr. Osita Nwanisobi, Spokesman of the Central Bank of Nigeria, says the planned unveiling on October 1, 2021, has now been postponed due to other key activities lined up to commemorate the country’s 61st Independence Anniversary,” the statement reads.

Nwasinobi reassured the public that there was no need for concern, stating that the CBN and other partners were working around the clock to guarantee a smooth transition for the “overall benefit of the customer, particularly those in rural regions and the unbanked population.”

He emphasized that once implemented, the digital currency will facilitate peer-to-peer transfers as well as payment for products and services at specified businesses.

The CBN director also stated that the apex bank has put in place a framework to handle any issues that may develop as a result of the pilot deployment of the eNaira.

The launch date has not been rescheduled.

Ditch the Scroll, Dive Deep: Tech's Weekend Must-Read Delivered to Your Inbox.
[newsletter_signup_form id=1]
Picture of Sheu Abdullateef Funsho
Sheu Abdullateef Funsho
I'm a certified tech expert with over a decade of experience. Serving as a Blogger, Copywriter, Web Designer, Crypto Expert, and Digital Marketer. I'm passionate about sharing unique insights and ideas on technology and trends. Need help with any of these areas? DM me, and let's collaborate to achieve your goals with cutting-edge expertise.
Related Articles
How to Trade Bitcoin from Your Mobile Phone
How to Trade Bitcoin from Your Mobile Phone
Forex Trading Apps
Innovations in Forex Trading Apps Redefine Market Accessibility
CBN Exchange Rate Dollar to Naira Today
Naira Gains; MPC Meets, BDC Sector Faces Deadline
CBEX trading
CBEX Back Online Despite SEC Ban & Massive Fraud Probe
FG Switches from Remita to TMRAS Platform
FG Switches from Remita: TMRAS Platform Launches
CBN Exchange Rate Dollar to Naira Today
Naira Gains: N1,485/$ on Black Market, Liquidity Up

Leave a Comment

Your email address will not be published. Required fields are marked *

Latest Posts
FIFA 2025 PPSSPP Download
FIFA 2025 PPSSPP: ISO Download & Gameplay Guide (2025)
GTA 5 Apk + Obb Download
GTA 5 Apk + Obb: Latest Download For Android
BBNaija Season 9 Reunion
BBNaija Season 9 Reunion: The Wait Is Finally Over
Sites Like KissCartoon
Top 20 Sites Like KissCartoon 2025
Scroll to Top