The Central Bank of Nigeria,CBN has released guidelines for the newly launched eNaira platform which already has over 5000 downloads.

According to the regulatory and issuance guidelines released by the CBN, there would be different wallets for different stakeholders.

The eNaira Merchant speed wallets will be used solely for receiving and making eNaira payments for goods and services, while the eNaira speed wallets will be available for end users to transact on the eNaira platform.

To ensure security of funds, the eNaira is expected to have a two-factor authentication and other security measures.

The guideline also revealed that the eNaira stock belongs solely to the CBN and it shall serve as a warehouse for all eNaira. Other financial institutions are expected to maintain one treasury eNaira wallet to warehouse eNaira received from the CBN eNaira stock wallet.

However, a Financial Institutions (FI) may create eNaira sub-treasury wallets for their branches and fund them from its single eNaira treasury wallet with the CBN.

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