The Federal Government may begin paying salaries, pensions and social welfare benefits through the eNaira under a new Central Bank of Nigeria roadmap aimed at transforming the country’s digital currency into a major payment channel.
The proposal is contained in the Nigeria Payments System Vision 2028, released by the CBN, which outlines plans to expand the use of the eNaira and move it from a pilot project to a core payment rail for government and private-sector transactions.
The eNaira, launched in October 2021 as Africa’s first central bank digital currency, was introduced to deepen financial inclusion, reduce the cost of transactions and remittances, and promote a cashless economy. However, adoption has remained relatively low despite years of regulatory support.
In the new document, the apex bank said it would revisit the existing CBDC framework to better align it with market realities and operational needs.
The CBN stated, “Transition CBDC from
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