CBN discharges rules for eNaira digital currency

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Following the yesterday’s lunch of the eNaira, the application for the digital cash presented by the CBN is now available for download, with more than 5000 downloads promptly after the lunch of the digital currency.

This is as the apex bank delivered administrative rules which specify that charges for exchanges that begin from the eNaira stage will be free in the initial 90 days starting from October 25. After this period, material charges as laid out in the manual for charges by banks, other monetary and non-bank monetary organizations will become compelling.

The eNaira speedwallet application implied for people had as at 4:00 p.m., seen more than 5000 downloads while the eNaira speed merchant wallet had seen nearly 1,000 downloads.

According to the regulatory and issuance rules, banks will naturally be onboarded by the CBN while merchant will be onboarded once they download the application and people should installed without help from anyone else.

The guideline revealed that there would be different wallets for different stakeholders.

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