May 9, 2022

eNaira Upgrade: CBN to include bills payment


Takes campaign to markets

By Babajide Komolafe, Economy Editor

The Central Bank of Nigeria (CBN) has said that it will include bills payment in the upgraded version of its Central Bank Digital Currency (CBDC), eNaira. 

The CBN said that this is part of measures to increase use of the digital currency, including  sensitisation campaigns  in major markets across the country. 

CBN Branch Controller, Lagos, Mr. Bariboloka Koyor disclosing this at  a sensitisation campaign on the eNaira held at the Kairo market in Oshodi Lagos in collaboration with Bizi Mobile, 

Koyor said: “Starting from next week, there is going to be an upgrade on the eNaira speed wallet app that will allow you to do transactions such as paying for DSTV or electric bills or even paying for flight tickets. Also the USSD code *997# is out and it is just for more people to be aware of it and begin to use it.”

 Explaining the difference between the eNaira and the internet banking services offered by banks, Koyor said,  “with the eNiara speed wallet,  compared to the internet banking that many are used to, it is fast and convenient and there are no charges.

He told the gathering of business owners and market leaders that  the USSD code for the eNaira *997# has been launched to make the onboarding of more Nigerians much easier, adding that, “The enaira will be an instrument that will be used going forward by the government to disburse funds that they want to give to alleviate poverty. So the advantage is for people to onboard early. 

We decided to come today to sensitise the traders and businessmen around the market today concerning the eNaira.

 “This is a project that the CBN has rolled out to reach out to every Nigerian in terms of financial inclusion and in terms of efficiency, reliability and safety of banking transactions so that we can do banking transactions very easily and safely and the people in Nigeria can enjoy the benefit of the eNaira.

“It is a new project and the people in the market are excited about the project and accepted it and we are sensitising people everywhere in the country.”

Speaking at the event, Secretary of the Oshodi Market Traders Association, Obinna Omeh said the eNaira will be a relief for traders as it will solve the challenge of unseen alerts, fake alerts and issues of fraud typically seen in the market.