The Central Bank of Nigeria (CBN) has announced the postponement of the launch of the country’s digital currency, eNaira which was earlier scheduled for today, October 1.
The apex bank made the announcement in a statement signed by the CBN’s spokesperson, Osita Nwanisobi, on Thursday citing lined up events for the country’s 61st independence anniversary as the reason.
Although Mr. Nwanisobi did not give a new date for the launch, he assured that there was no cause to worry.
“The CBN took the decision to postpone the launch, which had been initially planned to coincide with the Independence anniversary, in deference to the mood of national rededication to the collective dream of One Nigeria,” he said.
He said the CBN and other partners were working tirelessly to ensure an easy process that will benefit customers especially those in the rural areas.
He said the eNaira once launched, will ease peer-to-peer transfers, pay for goods and services at selected merchants, limit the use of currency and ensure the Nigerian economy’s stability.
While speaking on the readiness of banks and other financial institutions for the launch of the eNaira, he explained that not all customers were expected to begin transactions on the day of the launch.
He also assured that the country’s financial institutions remain a critical part of the Central Bank Digital Currency (CBDC).
On the concerns expressed about the digital currency being among the first central bank’s digital currencies in the world, Mr. Nwanisobi said the CBN had put a structure in place to address any issue that arise from the pilot implementation of the eNaira immediately.
The postponement comes a day after a firm called eNaira Payment Solutions Limited filed a suit before the Federal High Court against the CBN over the name “eNaira” and had earlier through its lawyers warned the apex bank to desist from using the name.