According to the Central Bank of Nigeria, Nigerians without internet-enabled phones would be able to use the eNaira.

In a document titled “Design paper for the eNaira,” the CBN confirmed this.

Finally, the usefulness of eNaira would increase significantly since Nigerians would be able to transact without having to pay for data or having an internet-enabled phone.

What the CBN has to say

“The eNaira thus risks further alienating sections of the population who are uneducated, lack exposure and access to internet services or digital devices,” according to the CBN.

“To mitigate this risk, the bank incorporated the need for inclusiveness into the eNaira’s core design principle.” “Because of this concept, the bank has been able to focus on simplicity and convenience of use, ensuring that Nigerians without Internet-enabled phones may access the service,” the CBN added.

According to the apex bank, the eNaira would supplement existing payment options like as mobile banking applications, point-of-sale terminals, USSD, FRC, and Internet banking.

“At its heart, the account-based CBDC model replicates the progress made on the National Financial Inclusion Strategy, which provides access to financial services by leveraging last-mile networks to identify users and offer banking services through channels such as PoS and USSD,” the CBN stated.

“Through the account-based model, the CBN intends to facilitate access by using Nigeria’s existing identification infrastructure, including as the BVN, NIN, TIN, and so on, to uniquely identify individuals and corporate organizations.”

“Specifically, identity frameworks such as the NIN will provide access for the financially excluded since they can be individually recognized, allowing financial services to be provided.” These identity systems will contribute to a strong KYC framework that would provide access to all Nigerians.”

According to the CBN, interoperability between the eNaira and other CBDCs was built into the eNaira’s architecture.

As per the report, this would assist promote cross-border transfers and alleviate fears about the economy’s dollarization.


I'm Funsho, a technology enthusiast who operates as a web designer, developer, and Pro-blogger. I am enthusiastic in sharing unique experiences and ideas on technology and trends.


  • Big Joe, October 25, 2021 @ 2:30 pm Reply

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    • Shelaf, October 25, 2021 @ 8:06 pm Reply

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