₦airaland Forum

x123xlolls:
For how many minutes OP? Nigerians can't wait, even for traffic lights, naija man go complain, always in rush, you people have to learn patience. Muslims must pray the way they like, its just weekly/for 5 mins

adonainana:
The summary of what was written here is :-

1) you can open an e wallet either with NIN or your existing bvn linked account
2) you can send e naira from one wallet to another FREE of charge

Emphasis on the second point which is you can send naira from one account to another.

In other words imagine doing bank transfer with no charges, no atm fees, no pos fees nothing like how most countries operate.

This is the summary of what the e naira offers you

This ain’t cryptocurrency neither is it a new currency or a currency backed by naira.

It’s just the CBN telling you from the 1st of Oct 2021 you can now send naira electocnically free or charge

Beloved3:
Lol what is the significance of rack-centre to CBN's digital currency?

You think CBN will host such government asset on a private server?

Do you have any idea how much megawatts of electricity the so called rack-centre data centre consumes?

Do they rely on the national power grid or they use generators?

When you comprehend how huge that electricity demand is, then do you slowly now realise how much damage feul generators of that large size is doing to environment?

Why do you think Tesla and many US support pulled the plug in bitcoin? Is power generation/requirement of data centre a joke to you?


Well hopefully you have answers to these questions.

All you have done is to tell me Lagos has a data centre and you are jubilating

monferans0:
but you banned crypto, who will patronize this enaira now?

FarahAideed:
Na 1 E naira would have a different value and you will need to exchange more Naira to get one and as demand grows the values grow , but it should be an alternative to hedge on the naira outside USD

FarahAideed:
I actually did a presentation on this to the Nigerian Mint & Print last year , E naira driven on Block chain tech

The CBN recently sent a presentation to Nigerian banks about the eNaira project, revealing more details about its design and operational module. As seen by Nairametrics, the presentation described how the new currency would be designed and operated.

In fact, the report states that the e-Naira is a legal tender for the entire country. The report also mentions that it will have non-interest-bearing CBDC status, a transaction limit for customers, and a value-based transaction limit.

Participants in the e-Naira program are featured in five stages, including:

Monetary Authority Suite; The Central Bank will be handing the first product component that includes issue, distribute, redeem and destroy the currency. Store data on a cloud server, monitor and analyse currency transactions.

Financial Institution Suite; licensed financial institution will be able to request currency or issue stablecoins, manage digital currency across branches, KYC, identify and AML compliance capability.

eGovernment Suite; the government will b able to efficiently process digital payments sent to and received from citizens and businesses.

Merchants will provide low-cost payment and business management software, POS, remote payment solutions, online capabilities, transaction analysis and reconciliation.

Retail Consumer Suite; features user-centred designs for a great user experience. The architecture will be expandable to enable innovation; features advanced privacy and security.

Consequently, the proposed transaction cost for the e-Naira wallet was also outlined by the Nigerian Central Bank.

The digital currency infrastructure does not charge for user-to-merchant transactions and P2P wallet transactions.

It shall be the responsibility of Nigerian banks to promote and market the centrally issued digital currency as a cash alternative to existing and potential customers in support of the Nigerian apex bank’s goal for financial inclusion.

In order to catalyse the adoption of the e-naira, banks will facilitate onboarding and provide world-class customer service.

Nigerian banks will be allowed to invite all their customers to register for the e-Naira. Besides pre-generated codes, the banks can send invitation codes for onboarding to a specific list of selected customers. Onboarding will be done for customers who have a code assigned by their banks. The banks have already validated and verified these customers.

Moreover, the Central Bank stated the wallet provided by its institution was merely a stop-gap measure for meeting the deadline, given that banks and other licensed operators may provide their own wallets since it didn’t intend to compete against the banks.

As part of the digital currency initiative, Nigeria’s central bank has made clear that NIBSS and other switching platforms will still be relevant, existing infrastructure can be integrated and leveraged in the e-Naira implementation.

As a National Critical Infrastructure, the e-naira system will be subject to comprehensive security checks, all data and personally identifiable information (PII) will be kept off the ledger and will not be stored on the ledger.

kestolove95:
the attention seeker

Fame99game:
What's the 10 year educational plan of Biafra?

How's the business terrain going to be?

What's our competitive advantage?

Which foreign governments are willing to back your currency.

How will our youths not suffer from the breakaway?

Show us these things.

Let us see our future and the future of our kids in this plan.

Make it appealing and you won't need to kill, maim, abuse people.

So far it is just propaganda, shouts, violence unfounded accusations and name calling

Anazp:
you should ask the British why it still prefers Nigeria as one. Left to the northerners they prefer to go their way. With agriculture those guys can feed Africa

Anazp:
All this noise about a lockdown every Monday in the south east. Can it really hurt Nigeria? Even if the south east goes on lockdown every day will it hurt other parts of Nigeria? I mean the southeast was on a lockdown for 3 years during the civil war and Nigeria's economy still was at it's best. There was so much revenue and following the civil war lockdown in the South East- an oil boom!!!

So to you South easterners. If you like Lock down for life it will only hurt you. So be wise. You don't produce nothing, not food no banks nothing. The north and the Nigeria delta plus south west are the main stays of the Nigerian economy. Use your head.

Na hunger go wire only una