The Central Bank of Nigeria’s eNaira website has gone live ahead of October 1 official launch. According to the website, www.enaira.com, “eNaira is a CB -issued digital currency that provides a unique form of money denominated in Naira.”
The CBN stated that eNaira would serve as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments.
It added that eNaira had an exclusive operational structure that was both remarkable and nothing like other forms of central bank money. “There are several benefits from a central bank-issued digital currency in Nigeria, and this cuts across different sectors of, and concerns of the economy,” it stated.
According to the CBN, the eNaira app would feature and reflect brand values centered around ease of use and efficiency while bearing in mind security. “We have developed this App with a deeper understanding of customers, what they value, their abilities and also their limitations,” it stated.
I have wondered what the safeguards are in the situation that an armed robber compels an individal to transfer e-money under duress to the robbers account.