• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, August 29, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

CBN Announces USSD Code For eNaira Transactions, As Subscription Hits 840,000

by Mark Itsibor
3 years ago
in Business, News
eNaira
Share on WhatsAppShare on FacebookShare on XTelegram

The Central Bank of Nigeria (CBN) has unveiled a new short code for subscribers of its digital currency, eNaira to make financial transactions on the platform. The aim is to enhance its acceptability with a focus on deepeningpayment system.

 

Advertisement

“I’m pleased and indeed delighted to inform you all today that by next week, Nigerians both banked and unbanked will be able to open an eNaira wallet and conduct transactions by simply dialing *997# from their mobile phones,”CBN Governor, Godwin Emefiele said yesterday at the grand finale of the eNaira Hackathon in Abuja.

 

The CBN governor also announced that between October 2021 when it was launched and now, the eNaira has reached 840,000 downloads, with about 270,000 active wallets comprising over 252,000 consumer wallets and 17,000 merchant wallets. The volume and value of transactions on the platform have been remarkable, reaching above 200,000 and N4 billion, respectively.

 

RELATED

Tubotamuno Launches ‘The Elite Wanderer’ To Turn Wealth Into Power, Legacy

Tubotamuno Launches ‘The Elite Wanderer’ To Turn Wealth Into Power, Legacy

2 hours ago
Bauchi To Pay Leave Grant To LG Workers

2027: Why PDP Must Present Southern Christian Candidate — Bauchi Gov

2 hours ago
ADVERTISEMENT

The eNaira is expected to enhance financial inclusion, support poverty reduction, enable direct welfare disbursement to citizens, support a resilient payments ecosystem, improve availability and usability of central bank money, facilitate diaspora remittances, reduce the cost of processing cash, and reduce cost and improve efficiency of cross-border payment among others.

 

The CBN sets a self-imposed target of 8,000,000 active users based on estimations using the diffusion of innovation model.
Mr Emefiele said the Hackathon event was a forward leap in the implementation of eNaira to ensure all Nigerians receive the full benefits of a Central bank Digital Currency (CBDC).
CBN’s Deputy Governor in charge of economic policy Dr Kingsley Obiora said the use of cash as a means of payment is fast declining, a reason he the minting of currency by the central bank has been reducing over the years. “We have seen the value of e-business increase,” he said, adding that central banks across the world have decided to step on the plate and respond to the yearning of digital payment system.
Dr Obiora who said a lot of central banks have been coming to understudy Nigeria’s model of the digital currency said, “this is the way the world is going. If you don’t jump into the train, it will leave you.”
Group head of African Fintech Foundry Daniel Awe said Nigeria’s central bank has transformed from a traditional regulator to a smart and innovative regulator. “It has moved a lot step further,” he said.
Mr Awe charged the top 10 winners of the hackathon competition to take their new roles as an opportunity to make impact. “By this time next year, we will want to see the impact you have made in terms of employment creation, impact in the eNaira and the digital financial system,” Awe told them.
From an initial cohort of over 105 groups that made the quarter finals and 75 teams that progressed to the semi-finals, the Hackathon reached its climax yesterday with 20 teams in the finals from which the top 10 teams emerged as prize winners.
Emefiele said the second phase of the digital project has begun and it is intended to drive financial inclusion by onboarding unbanked and underserved users leveraging offline channels.
The project adopted a phased- approach with the first phase focusing on banked users, while the policy objective of the second phase borders around financial inclusion.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


SendShare10633Tweet6646Share
ADVERTISEMENT
Previous Post

SMEs Advocate Govt Intervention As Inflation Deflates Business Models

Next Post

Lagos Airport Records Low Passenger Turnout As Return Tickets Hit N250,000

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

Tubotamuno Launches ‘The Elite Wanderer’ To Turn Wealth Into Power, Legacy
News

Tubotamuno Launches ‘The Elite Wanderer’ To Turn Wealth Into Power, Legacy

2025/08/28
Bauchi To Pay Leave Grant To LG Workers
News

2027: Why PDP Must Present Southern Christian Candidate — Bauchi Gov

2025/08/28
Akure Monarch Shuts Markets, Shops For Amole Festival
News

Akure Monarch Shuts Markets, Shops For Amole Festival

2025/08/28
Federal Gov’t To End Police Escort Misuse By VIPs, Says Hadiza Bala-Usman
News

Federal Gov’t To End Police Escort Misuse By VIPs, Says Hadiza Bala-Usman

2025/08/28
Tax Bills, Electoral Reforms, Anambra Poll May Shape 2025
News

INEC Allays ADC’s Fears Over Voter Registration Figures

2025/08/28
How DSS Prevented Religious Crisis In Oyo
News

Benue, Plateau Killings: DSS Files Criminal Charge Against 9 Suspects

2025/08/28
Leadership Conference advertisement

LATEST

Tubotamuno Launches ‘The Elite Wanderer’ To Turn Wealth Into Power, Legacy

2027: Why PDP Must Present Southern Christian Candidate — Bauchi Gov

Akure Monarch Shuts Markets, Shops For Amole Festival

Federal Gov’t To End Police Escort Misuse By VIPs, Says Hadiza Bala-Usman

INEC Allays ADC’s Fears Over Voter Registration Figures

JUST-IN: Besiktas Sack Ole Gunnar Solskjær As Head Coach

Benue, Plateau Killings: DSS Files Criminal Charge Against 9 Suspects

Federal Gov’t Hails Ex-Perm Secs’ Council For Bolstering Governance

Niger Delta Coalition Backs NNPCL Boss, Passes Confidence Vote On Tinubu

Gombe Gov Meets VON DG, Pledges Continued Support, Robust Partnership

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.