The digital currency eNaira, issued by the Central Bank of Nigeria, is now online and accessible for download, making Nigeria the first country in Africa to have a functioning CBDC. The Apex bank made the announcement on the 25th of October 2021.
The eNaira fast wallet is now available for iPhone and Android users, and you can download it from the website.
Nigerians can now download, install, and use the smartphone app to conduct business across the country as long as they have access to the internet.
Let me take you through the download process
How to download eNaira app
- First go to PlayStore, for Android users, and IOS for iPhone users and search for eNaira Speed Wallet. Download and install the app.
- Select your bank from the list of banks provided.
- Next, the Create Account Page will appear, and from there you can enter your phone number. Ensure this is the number that is linked to your bank account. Input your password as well.
- Input your information including the following:
- Tap on Continue. You will be sent a wallet activation message to the email linked to your BVN after your details have been validated.
- Go to the email you provided and open the message that was sent to you. Tap on eNaira Wallet to activate the email and to open eNaira Speed Wallet.
That is all you need to know about downloading and setting up the eNaira app.
To access your eNaira Speed Wallet, enter your Username (email address tied to your BVN) and the Password you created during the signup process.
The app size is just 8.8 MB as, at the time of writing this article, the eNaira Speed Wallet has recorded over 50,000 downloads on Google PlayStore.
If you want to fund your eNaira wallet, click here for the step-by-step details on how to go about it.
What you need to know about eNaira
eNaira is a digital currency created by the Central Bank of Nigeria that provides a unique form of money denominated in Naira. When compared to cash payments, the eNaira acts as both a means of exchange and a store of value, providing better payment prospects in retail transactions.
The eNaira has a unique operational structure that sets it apart from other forms of central bank money.