CBN’s eNaira attracts 78,000 merchants from more than 160 countries


Amid crypto crackdown, CBN’s eNaira attracts 78,000 merchants from more than 160 countries

As the Central Bank of Nigeria (CBN) tightens its grip on cryptocurrency-related transactions, the eNaira continues to lure individuals, with 78,000 merchants from over 160 countries on board just weeks after its debut.

This was disclosed by the CBN which has remained staunch in its crackdown on cryptocurrency transactions, amid claims that banks have increased their efforts to stop cryptocurrency-related transactions.

The crackdown resulted in a 43% decrease in Nigerian peer-to-peer transactions. Nigerians accounted for around $9.4 million in weekly P2P volumes, followed by Kenyans and South Africans, who accounted for nearly $2.8 million and $1.8 million respectively.

In a phone chat with Bloomberg, the Central Bank’s Director, Corporate Communications Department, Osita Nwanisobi said the adoption of the eNaira has been “excellent”

“More than 488,000 people have downloaded the consumer wallet – that’s needed to transact eNaira – while about 78,000 merchants from more than 160 countries have enrolled,” he said.

Nwanisobi added that about N62 million worth of the virtual currency have been traded since it was introduced.


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