5 Things to Know About the Nigeria eNaira Digital Currency

5 Things to Know About the Nigeria eNaira Digital Currency

Here are the guidelines from the Central Bank of Nigeria about the charges on eNaira platform.

The eNaira platform is newly launched, actually we’ve been informed about the coming of the Nigerian digital currency called “e-Naira”, which was launched on October 25, 2021.

In case you don’t know, some people already asking what’s the full meaning of eNaira or e-Naira, the “e” simply means “Electronic”, which makes it “Electronic Naira”. It’s a digital currency that’s why it’s electronic.

Some Nigerian thought that the eNaira is a cryptocurrency, which is NO. The eNaira is not a cryptocurrency, it’s still the same naira but in digital form.

Nothing like airdrop or earning from eNaira, it’s same naira but different because it’s a digital currency created by the Nigerian government.

5 Things to Know About the Nigeria eNaira Digital Currency

5 Things To Know About the Nigeria Enaira Digital Currency

  1. All the charges for transactions performed on the eNaira platform will be free for the first 90 days starting from October 25,2021.
  2. Every funds transfer below ₦5,000 is charged ₦10, ₦25 charges for transfer between ₦5,000 — ₦50,000, ₦50 charges for every transfer above ₦50,000.
  3. Phone number without verified National Identification Number (NIN) will be limited to ₦20,000 daily transaction, and the account can hold ₦120,000 as a maximum account balance.
  4. Two-factor authentication is available in the app for more security and safety using the app or the eNaira platform.
  5. It’s NOT a cryptocurrency and you can’t earn from it, it’s the same Naira with different possibilities.

Source: Punchng

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I'm the Founder of Techcaput, a 20 years old guy who loves technology and innovations.

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