Africa’s first digital currency, the eNaira, has successfully completed N46.3 million worth of transactions in less than fourteen days after its official launch.
This was made public by a senior Central Bank of Nigeria (CBN) official on Monday.
The CBN’s embrace of technology to address financial inclusion has gathered praises both from home and abroad. However, there have been some bumps on the road.
The CBN said the currency’s first week and a half was a “resounding success,” with roughly 400,000 new wallets registered in dozens of nations and clients making 12,500 transactions worth N46.3 million ($113,000).
This success is in spite of customers complaints about a time-consuming sign-up process.
Recall that Africa’s first digital currency made its debut on the October 25, 2021 and had over 200,000 downloads 24 hours after launch.
The eNaira speed wallet had disappeared from the Android Play Store a few days later, raising concerns among Nigerians. The problem was quickly resolved, however.
The CBN had also urged all Nigerians to embrace the eNaira, saying that it is more reliable than cryptocurrencies.
CBN’s technical partner, Bitt Inc, has equally announced plans to roll out a new mobile application that allows the unbanked population to access the eNaira.
