October 01, (THEWILL) – The Central Bank of Nigeria (CBN) has announced the postponement of the proposed launch of its digital currency, e-Naira.
A statement by the bank’s director of communications, Osita Nwanisobi, said the launch, earlier scheduled for October 1, was postponed due to other activities lined up to commemorate the country’s 61st independence anniversary.
Nwanisobi said the CBN and other partners are working round-the-clock to ensure a seamless process that would be in the overall interest of customers, especially the unbanked population.
He said with the e-Naira, Nigerians would be able to carry out peer-to-peer transfer to another person’s e-Naira wallet as well as pay for goods and services at selected merchants.
He added that the e-Naira would also help to reduce the use of cash and ensure the stability of the Nigerian economy.
Nwanisobi assured Nigerians that financial institutions in the country remain key actors and were a critical part of the CBN digital currency.
Meanwhile, the CBN is facing a lawsuit from a company, ‘ENAIRA PAYMENT SOLUTIONS LIMITED’, which claims to have incorporated the name, eNaira, since April 2004.
In a cease and desist letter sent to the CBN, the company stated its intentions to stop the launch of the e-Naira.
The letter reads, “Our client has approached the Federal High Court in Suit No: FHC/AB/CS/113/2021 between ENAIRA PAYMENT SOLUTIONS LIMITED vs CENTRAL BANK OF NIGERIA to seek a restraining order including an order to restrain CBN from proceeding in the launch on 1st October 2021.”
While there’s no confirmed connection between the postponement and the lawsuit, the CBN is yet to announce a new launch date.
