eNaira is a Central bank digital currency issued and regulated by the Central Bank of Nigeria.
[2] Denominated in naira, the eNaira serves as both a medium of exchange and a store of value and claims to offer better payment prospects in retail transactions when compared to cash.
[3][4][5] The eNaira was launched and activated on 25 October 2021 by President Muhammad Buhari,[6] under the slogan: "Same Naira, More Possibilities".
Fewer than 0.5% of Nigerians were using the eNaira within a year of its launch, despite discounts to encourage adoption.
[8] Barriers include weak technology infrastructure, unreliable electricity, the lack of training for financial employees, anxieties about data privacy and financial crime,[2] low trust in government, and the exclusion of people without existing bank accounts.