It is no more news that the long awaited enaira has be launched, this is first of its kind, you need to know how it works, that’s the reason for this post. Enaira is not crypto currency but digital currency. Nigeria is among the few countries to introduce digital money but the first in Africa. It is the digital form of the paper naira we are using presently; built on blockchain open ledger technology as such it prevents duplication, multiplication or fake. This means that each naira note will be different from any other one. The burden of carrying cash about has come to an end, everyone doing business or transacting in Nigeria needs to download the enaira app. Bitcoin and other cryptocurrencies do not have backing from authorities but enaira is developed by CBN backed by Nigeria Government.
Enaira price
The Central bank of Nigeria has released directives on the charges on enaira platform. For now, the charges will be free for the first 90 days starting from 25th October, 2021.
Phone numbers that are not verified via National Identification Number (NIN), will have limited transaction of #20,000 while holding a maximum of #120,000 in the account.
And phone numbers with verified National Identification Number on Tier 1 will have a daily transaction of #50,000 and #100,000 maximum.
Electronic transfer that is below #5,000 will be charged #10, #5,000 to #50,000 will be charged #25. Any transfer above #50,000 will attract charges of #50.
Enaira app download for android
This can be downloaded from play store for those using android and apple store for Iphone.
Enaira wallet download
The eNaira wallet is a wallet needed to access and keep the eNaira digital currency. Central Bank of Nigeria will give the eNaira to financial institutions to serve as intermediaries to help in distributing to individuals. These institutions will open a treasury wallet that would be used in collecting eNaira from central bank. Some of the financial institutions are banks, 36 of them have been licensed already; GTB, UBA, First Bank, Stanbic etc.
Customers can access any of the banks from the eNaira speed wallet, input their account details and perform transactions. Amongst other things that subsidiary banks will be doing/confirm are;
- Identity card
- Processing of payment
- Generation of ewallet
Enaira platform website
You have to be very careful where you download your eNaira wallet from. The eNaira platform website is www.enaira.gov.ng scammers are everywhere so be careful. Register with enaira website in other to download the app from play store.
How to Login to enaira wallet
- Download on play store or go to www.eNaira .gov.ng
- Click and register
- Invitation code will be sent to you from your bank
- Enter your NIN, BVN and other required information. Make sure details of your BVN is the same as you entered it before it was issued to you; first name, last name, date of birth, state of origin and email,
- Upload your passport photograph
- Click submit when done
- Your bank will send a notification
- Login to your eNaira wallet
How to use eNaira
The CBN and banks have the treasuries where all the eNaira emanate from so for you to use it you have to download the eNaira app from play store to be able to use
How to fund your eNaira Wallet
It can be done through your regular bank app from your bank account and cash from a register enaira verified agent in your bank or a SANEF agent
Note
eNaira to Naira is #1=#1
Make sure you download your wallet from eNaria registration portal
Conclusion
Enaira wallet is a means of establishing the cashless policy in Nigeria, where wont have to carry money about.
