eNaira Records Over 1.49m Transactions Worth N3.5bn

The Central Bank of Nigeria says its digital currency, eNaira, has recorded over 1.49 million transactions worth N3.484 billion.

Godwin Emefiele, the Governor of the CBN, disclosed this at the Monetary Policy Committee (MPC) meeting on Tuesday.

Emefiele also disclosed that a little over 13,136 wallets have been downloaded over the recently launched USSD channel, which is an unstructured supplementary service data.

“The application has been downloaded by 905,588 users so far, and 282,600 of them are using it right now,” he claimed.

“Over 1.49 million transactions worth over N3.484 billion have already been made, with the breakdown being as follows: 78,115 consumer-to-bank transactions worth roughly N1 billion, 90,760 customer-to-bank transactions worth roughly N945 million, 35,800 consumer-to-consumer transactions worth roughly N480 million, and 171,000 consumer-to-merchant transactions worth over N387 million.

Emefiele further emphasized the USSD linkage to eNaira’s most recent accomplishment. According to him, 13,136 wallets have so far been established via the USSD channel, which was the one we introduced around three to four weeks ago.

We are pleased with the advancements that have been achieved since then.

He also stated that Nigerians have increased their use of eNaira for online transactions.

He added, “For e-commerce, we have seen a 9.946 percent increase between July and September, and this remains very encouraging.

We believe the eNaira is an alternative to you holding an analogue naira and so it is very convenient.”