Tomorrow, Nigeria will celebrate its 61st anniversary as an independent nation. Considered as one of the greatest countries in African history, the West African nation — which is the most populous black nation in the world — will be celebrating her independence on a ground-breaking note. On October 1st, 2021, Nigeria will also launch its official digital currency — a first of its kind in the nation’s history. However, the e-Naira website was successfully launched on Monday, 27th September 2021.
The e-Naira was created for the Central Bank of Nigeria by a fintech company located in Barbados — Bitt Inc. Per the CBN, the e-Naira will have similar features with Nigeria’s physical legal tender (the Naira). The difference between both currencies is the fact that the e-Naira will serve as the digitalized version of the Naira notes.
The Central Bank of Nigeria has instructed that the e-Naira must be accepted as a form of payment by all financial institutions, businesses and organizations across the country.
With the e-Naira website already developed, it has become necessary to provide details of what it entails. What does the website have to offer Nigerians? Does it contain details about the e-Naira alone? How can one use it for optimum experience? These are questions this article seeks to answer before the launch of the much anticipated digital currency. Below are five important things the e-Naira website has to offer:
- An e-Naira Community Where Nigerians Can Connect
The e-Naira website has a community that functions as a social platform that will connect Nigerians — especially those who own an e-Naira wallet. However, this social community is not restricted to people living in Nigeria alone but e-Naira users worldwide. Here they can form a strong networking system with one another, give insights on the digital currency, and seek relevant information about how to use the digital currency.
The website has four community platforms where users can interact depending on what information they seek to garner. These community platforms are designed for specific conversations including:
- e-Naira Regulations
Anyone who wants to join each community can simply register using their email addresses.
- Wallet Management
Users can use the website to funding their wallets or manage the funds once the website launches tomorrow. Per multiple reports, the e-Naira wallet enables allows financial transactions to be relatively easy. The website will also permit users to link their bank accounts to their e-Naira wallets and will allow pay-as-you-go services.
- Enables Users To Download The e-Naira App
The e-Naira app will also be known as “Speed”. This app can be downloaded using Android and iOS devices on Google and Apple Play Stores respectively. Users can download the app by scanning a QR code on the website. However, the app will only be available for download after the launch of the digital currency.
- Users Can Offer Insights And Analytics On The Website
The website provides a section for e-Naira users who would like to share their experiences using the digital wallet. Those who wish to provide statistical information and deep insights about the platform and digital content, in general, will also be able to do so on the website. The website has an Insights/Users Speak Page where important details and write-ups by users will be published. However, such users must contact the e-Naira service providers to seek approval.
Additionally, the e-Naira website comes with a lot of vital information and answers to Frequently Asked Questions (FAQs).
- Up-to-date Information On The Happenings At CBDCs
The e-Naira website has a dedicated section where it will provide users with up-to-date information on the happiness in the world of Central Bank Digital Currencies (CBDCs). This will allow users to gain more insights into the relevance of digital currencies and how they progress in other parts of the world.
With the e-Naira set to launch tomorrow — coinciding with the nation’s independence — we hope that the CBN’s idea to create digital currency would have a significant impact on the nation’s economy.