Underwritten by Tristan James Jr.
This is as the apex bank released regulatory guidelines which stipulate that charges for transactions that originate from the eNaira platform will be free in the first 90 days commencing from October 25.
According to the regulatory and issuance guidelines, banks will automatically be onboarded by the CBN while merchants will be onboarded once they download the app and individuals will have to onboard by themselves.
Following the launch of the enaira by the President, Major General Muhamadu Buhari (retd.), the application for the digital currency introduced by the CBN has become available for download, with more than 5,000 downloads within hours of the launch.
“The eNaira stock wallet belongs solely to the CBN and it shall warehouse all minted eNaira,”
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The eNaira speedwallet app meant for individuals had at 4pm on Tuesday, seen more than 5,000 downloads while the eNaira speed merchant wallet had seen close to 1,000 downloads.
After this period, applicable charges as outlined in the Guide to Charges by Banks, Other Financial and Non-bank Financial Institutions will become effective.
It said that financial institutions were expected to maintain one treasury eNaira wallet to warehouse eNaira received from the CBN eNaira stock wallet.
“The eNaira branch subwallet shall be funded from the treasury eNaira wallet”
INSIDERNOTES
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