e-Naira as panacea for Nigeria’s revenue mobilisation challenges?, By Ikaay Ugbodaga

e-Naira as panacea for Nigeria’s revenue mobilisation challenges?, By Ikaay Ugbodaga

Nigeria has one of the largest informal economies in the world. The size of the country’s informal economy is estimated to be 57.7%, which represents approximately $1,116 billion at GDP PPP levels. The e-Naira could help in alleviating the issues of tax revenue mobilisation by giving access to millions of adults who have no means to access financial institutions, thereby promoting financial…

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Paper currency will soon be out of circulation - CBN official says

Paper currency will soon be out of circulation – CBN official says

The Central Bank of Nigeria has stated that paper currencies will soon go out of circulation. This was disclosed on Friday by the Delta State Branch Controller of CBN, Mr Godwin Okafor during a market sensitisation on e-Naira at the Ogbogonogo market in Asaba, Delta State. “We are here at the market today to sensitise the market people on the use of e-Naira. It is fully backed by CBN, unlike…

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e-Naira: CBN assures of effective technology to check fraudsters, hackers

e-Naira: CBN assures of effective technology to check fraudsters, hackers

The Central Bank of Nigeria (CBN), has assured that it has put in place effective mechanisms to insulate the e-Naira from hackers and fraudsters. The Director, Corporate Department, CBN, Mr Osita Nwanisobi, announced this on Wednesday at a two day Central Bank Fair holding in Kano. Solacebase reports that the theme of the fair is “Promoting Financial Stability and Economic Development”. Speaking…

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Cryptocurrency: Why foreign investors won’t be interested in e-Naira – Reno Omokri

Cryptocurrency: Why foreign investors won’t be interested in e-Naira – Reno Omokri

A socio-political activist, Reno Omokri has expressed pessimism that President Muhammadu Buhari’s call for foreign investors to invest in the newly launched digital currency, e-Naira may not yield fruit. ADAEZEUC BLOG recalls that Nigeria became the first country in Africa to launch digital currency after President Buhari formally unveiled the e-Naira on October 25 at the Presidential Villa,…

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E-Nara App Disappears In Google Play Store Amid Bad Reviews

E-Nara App Disappears In Google Play Store Amid Bad Reviews

The Central Bank of Nigeria’s latest invention, eNaira Speed Wallet, has disappeared from the Google Playstore, FIJ can confirm. Launched on Monday, the application garnered over 100,000 downloads on the Google platform in two days. However, a search on the platform on Wednesday revealed it is no longer hosted for downloads on Android devices. FIJ earlier reported how the eNaira application…

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e-Naira: ‘Buhari Can’t Explain What He Launched’ – Reno Omokri

e-Naira: ‘Buhari Can’t Explain What He Launched’ – Reno Omokri

Reno Omokri stated via his Instagram handle that the invention of Nigerian Digital Currency, e-Naira, is useless. e-Naira: ‘Buhari Can’t Explain What He Launched’ – Reno Omokri He stated that Nigerians need good governance from the president in the form of ‘e-Buhari’, to provide Nigerians with good schools, quality roads, electricity instead of a digital currency. He wrote:- “If you ask Buhari to…

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CBN’S E-NAIRA TO GROW NIGERIA'S GDP BY $29BN IN 10YRS — SAYS BUHARI

CBN’S E-NAIRA TO GROW NIGERIA’S GDP BY $29BN IN 10YRS — SAYS BUHARI

President Muhammadu Buhari says the adoption of Central Bank Digital Currency(CBDC) can increase Nigeria’s Gross Domestic Product(GDP) by 29 billion dollars over the next 10 years.Buhari made this submission on Monday while performing the formal Unveiling of Central Bank of Nigeria (CBN) Digital Currency, eNaira at the Presidential Villa, Abuja.DCO Global News Published on October 25, 2021 By…

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Breaking News! President Buhari Unveils The e-Naira

Breaking News! President Buhari Unveils The e-Naira

President Muhammadu Buhari on Monday unveiled the e-Naira. Buhari launched the country’s digital currency at the Presidential Villa, Abuja. The event had in attendance the Vice President, Yemi Osibanjo; Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele; Attorney General of the Federation, Abubakar Malami; among others. Recall that the digital currency was billed to be unveiled on…

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DOCUMENTS: CBN releases guidelines for eNaira

DOCUMENTS: CBN releases guidelines for eNaira

Following the launch of the eNaira by President Muhammadu Buhari, the application for the digital currency introduced by the CBN is available for download. CBN said the applications has received more than 5,000 downloads within hours of the launch. This is as the apex bank released regulatory guidelines which stipulate that charges for transactions that originate from the eNaira platform will…

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E-Naira adds no value to Nigeria’s economy – Expert faults FG

E-Naira adds no value to Nigeria’s economy – Expert faults FG

Following the launch of the much anticipated digital currency, e-Naira, which is the first of its kind in Africa, as social justice expert has raised concerns. President Muhammadu Buhari had launched the e-Naira on Monday at the Presidential Villa, Abuja. The Central Bank Digital Currency (CBDC) and its underlying technology, called blockchain, has the ability to improve Nigeria’s Gross…

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FG to unveil eNaira Monday, says CBN

FG to unveil eNaira Monday, says CBN

The President, Major General Muhammadu Buhari (retd.), will formally unveil the Nigerian Central Bank Digital Currency, known as the eNaira, on Monday, at the State House, Abuja. The Director, Corporate Communications, CBN, Osita Nwanisobi, said this in a statement on Saturday titled ‘President Buhari to unveil eNaira on Monday, 25 October 2021.’ It stated that the launch of the eNaira is a…

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