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eNaira may soon process salaries and benefits for government and private workers, transforming Nigeria’s payment systemThe Central Bank of Nigeria (CBN) aims to enhance eNaira adoption through programmable features and improved infrastructureChallenges like weak merchant acceptance hinder eNaira’s growth, despite millions of wallet registrations
The Federal Government may soon begin paying salaries, pensions, and social welfare benefits directly through the eNaira as the Central Bank of Nigeria (CBN) moves to transform the country’s digital currency into a mainstream payment system.
This plan is contained in the newly released Nigeria Payments System Vision 2028 (PSV2028), a strategic roadmap designed to modernise Nigeria’s financial ecosystem and accelerate the adoption of digital payments nationwide.
CBN strengthens eNaira in a new policy document to boost adoption. Credit: CBNSource: UGC
CBN plans bigger role for eNaira
The eNaira, launched in October 2021 as Africa’s first Central Bank Digital Currency (CBDC), was initially introduced to improve financial inclusion, reduce transaction costs,
