“The eNaira was launched to improve access to finance for individuals and businesses through digital channels to improve financial inclusion, lower the cost of transactions, and increase the flow of credit to households and businesses.“
– Ch’Edozie Okonjo, Controller CBN, Enugu
According to the official, the numbers recorded so far represent excellent adoption of the digital currency.
There are also doubts within the Central Bank about how the eNaira is being implemented and also concerning its viability. This is more so given the multitude of digital fintech solutions in Nigeria, to add on to the fact that Nigerians are said to have little trust in the bank and the local financial system.
The financial system is infamous for a foreign exchange regime that has multiple and diverse rates with the Central Bank unable to manage for reliability. This takes away from the need to use the eNaira to help in international transfers.