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CBN Releases Guidelines For Enaira - Business (5) - Nairaland

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CBN Releases Cash, Orders Banks To Operate On Saturdays And Sundays / CBN Releases $265 Million To Airlines Over Repatriation Challenges / CBN Partners With Bitt Inc For eNaira, Shuns Nigerian Fintech Companies (2) (3) (4)

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Re: CBN Releases Guidelines For Enaira by Alexis4337(m): 8:01am On Oct 26, 2021
[quote author= post=107066148]Anything to move our darling nation forward is all we want.

Many sane and hardworking Nigerians are optimistic as Africa's largest economy gears up to launch the continent's first central bank-backed digital currency, the eNaira.
Authorities hope to tap into the popularity of cryptocurrency so it can better monitor digital currency transactions, curb black market trading in the paper naira and also help integrate millions of Nigerians into banking.

It is going to make cross border payments easier and it is going to make it easier for the naira to be widely used and accepted.
So, Nigeria is gradually getting to the point where cryptocurrency is seen as an unstoppable force."

The eNaira will promote blockchain technologies like cryptocurrency, which Central Bank authorities banned in back in February, citing its volatility and investment risk for citizens.

The CBN then promised to provide a safer alternative - the eNaira.
Authorities and experts say the eNaira will ease monetary transactions and improve long-term value for Nigeria's currency, compared to its paper counterpart, which has hit its lowest value since 2003.
The CBN also says the eNaira saves on printing and distribution costs for cash.

The eNaira will also help address money laundering and corruption.
Everything built on blockchain is very safe and secure.
Another thing again is it's universal, parts of the benefits they intend to achieve with [b]the eNaira is it will be used for both international and local trade and also it's going to be to fight corruption. The only person the has the knowledge about the vision of this eNaira on this platform, the rest are blind with hatred grin
Re: CBN Releases Guidelines For Enaira by Ayoolamax: 8:03am On Oct 26, 2021
Righthussle:
Where can I have the app
Agege bus station. Yee who slap me naa joke i dey ooooo.

2 Likes

Re: CBN Releases Guidelines For Enaira by Ynix(m): 8:05am On Oct 26, 2021
sicily4u:


Are u OK, why quote
Are you senseless, can't you see I just told you what China did after releasing their digital currency?
Re: CBN Releases Guidelines For Enaira by israelp(m): 8:06am On Oct 26, 2021
danifinest:
1 enaira is equal to one physical naira
grin
Re: CBN Releases Guidelines For Enaira by Premiumwriter: 8:08am On Oct 26, 2021
This is federal ABEG app.

They should have bought the abeg app from the developers..that one interface is better

1 Like

Re: CBN Releases Guidelines For Enaira by jacoik(m): 8:10am On Oct 26, 2021
Honestly I have read this news like 3 times now but don't understand anything therein
Re: CBN Releases Guidelines For Enaira by judinho07(m): 8:14am On Oct 26, 2021
"4 me nah epounds i want...smart move 4 d guy's on d right lane to cash'out...i no call any name'oooh..but dey no each''other!!!!

Re: CBN Releases Guidelines For Enaira by Deicide: 8:23am On Oct 26, 2021
They didn't say anything about international transaction
Re: CBN Releases Guidelines For Enaira by setobaba: 8:24am On Oct 26, 2021
Does that means I can convert $50 to Enaira directly through the wallet ??
Re: CBN Releases Guidelines For Enaira by Olayetan(m): 8:30am On Oct 26, 2021
Cyoung4real:



Then the e Naira is useless and the person that brought about the idea is even more useless. With bank app, your brother can also send you money from anywhere in the word. Werey say domiciliary account account like say enaira dey accept dollar grin


you're too puerile to exchange words with.
Re: CBN Releases Guidelines For Enaira by frankson1(m): 8:32am On Oct 26, 2021
GoodLord95:
Central Bank neva ready
[b]Why put unreasonable limits if you really want youths to patronize your enaira?, Imagine someone will now get 20k once daily withdrawal limit, [/b]well it also has its own good side because you don get automatic excuse for your babe be that grin cheesy




They have Tiers 1 to 4 so if you want to increase your limit you upgrade. The 20k is for people who only registered with phone number.

MAKE UNA TRY READ SMALL. IT DOESN'T KILL
Re: CBN Releases Guidelines For Enaira by charixel: 8:36am On Oct 26, 2021
Clueless gunment
Re: CBN Releases Guidelines For Enaira by Dameland: 8:37am On Oct 26, 2021
Itohanmiwa:
For those with vision key into this opportunity by Nigeria, let the doubters continue doubting and I hope it isn't too late for them when they realise the opportunity their hate for this administration cost them. Nigeria will be great again this I know.

Was Nigeria ever great before?

1 Like

Re: CBN Releases Guidelines For Enaira by stasius: 8:42am On Oct 26, 2021
I still ask again. Is the enaira a cryptocurrency?
Re: CBN Releases Guidelines For Enaira by frankson1(m): 8:45am On Oct 26, 2021
Tayorshd2:
But before they promised to launch it at Oct 1st they said it's a non profit transaction now they have changed it to after 90days they will start deducting transfer fund etc ...

Nigeria and scam are singular and plural ..mtheew




I thought transactions will be free on this platform. If they're going to be charging like regular banks, then there's no point for me using it when I'm looking for a platform without charges or minimal for transactions.
Re: CBN Releases Guidelines For Enaira by Jeezuzpick(m): 8:46am On Oct 26, 2021
booblacain:


How many downloads did those apps you mentioned get in their first day of launch? why are you people so negative?

Okay. Today is the second day.

Let's wait and see.

1 Like

Re: CBN Releases Guidelines For Enaira by tamdun: 8:48am On Oct 26, 2021
Olayetan:


lemme state the difference to my knowledge, with eNaira, you can initiate transactions to other eNaira users in the world, maybe your brother in US who uses eNaira wants to transfer money to you, you don't have to have domiciliary account before he can send directly to you.

you can operate the app between users globally without bank hassles
Mobile app can do same
Re: CBN Releases Guidelines For Enaira by miniziter(m): 8:55am On Oct 26, 2021
StreetPreacher:

Did the application work with the email address registered on your phone? Mine has no fields to fill
Mine merchant enaira app did not stress at all.
Re: CBN Releases Guidelines For Enaira by mechanics(m): 9:06am On Oct 26, 2021
After downloading the app, how will one access the e-naira?
Re: CBN Releases Guidelines For Enaira by TheOgaBoss: 9:07am On Oct 26, 2021
dheaven:
Why ban crypto and be using the same blockchain technology in eNaira?
does enaira use block chain technology? I doubt, u think it is just the electronic version of our Fiat paper naira

1 Like

Re: CBN Releases Guidelines For Enaira by BestNaxa: 9:09am On Oct 26, 2021
What is their market cap please?
Re: CBN Releases Guidelines For Enaira by Mrlouis: 9:34am On Oct 26, 2021
post=107066148:
Anything to move our darling nation forward is all we want.

Many sane and hardworking Nigerians are optimistic as Africa's largest economy gears up to launch the continent's first central bank-backed digital currency, the eNaira.
Authorities hope to tap into the popularity of cryptocurrency so it can better monitor digital currency transactions, curb black market trading in the paper naira and also help integrate millions of Nigerians into banking.

It is going to make cross border payments easier and it is going to make it easier for the naira to be widely used and accepted.
So, Nigeria is gradually getting to the point where cryptocurrency is seen as an unstoppable force."

The eNaira will promote blockchain technologies like cryptocurrency, which Central Bank authorities banned in back in February, citing its volatility and investment risk for citizens.

The CBN then promised to provide a safer alternative - the eNaira.
Authorities and experts say the eNaira will ease monetary transactions and improve long-term value for Nigeria's currency, compared to its paper counterpart, which has hit its lowest value since 2003.
The CBN also says the eNaira saves on printing and distribution costs for cash.

The eNaira will also help address money laundering and corruption.
Everything built on blockchain is very safe and secure.
Another thing again is it's universal, parts of the benefits they intend to achieve with the eNaira is it will be used for both international and local trade and also it's going to be to fight corruption,.


A better Nigeria is all we want.
Nigeria will be great again in our lifetime.
God bless Nigeria.


You've said it all.
God bless you and yours.

I WONDER WHO COME ASK YOU FOR ALL THESE LONG EXPLANATIONS. WHO YOU DEY EXPLAIN GIVE
Re: CBN Releases Guidelines For Enaira by ubev01(m): 9:42am On Oct 26, 2021
MrOON:
I have some questions.


1. What's the difference between this e-naira and the soft naira i transfer to my clients for business using ussd or bank app?

2. Is E-NAIRA mineable like some other cryptos?

3. Is this the 1 dollar 1 e-naira = 1 naira, APC promised Nigerians?
that number 1 is the real question. Why do i need e Naira with all its limits of i can just use my bank app without any limit
Re: CBN Releases Guidelines For Enaira by Badb0y4lyf(m): 10:43am On Oct 26, 2021
The E naira isn't back by anything not token or block chain and it seems to duplicate the fuction of the every day bank Apps only it is backed by our physical cash in the bank but this is just a way of printing money out of thin air. The CBN and FG are up to something.

1 Like

Re: CBN Releases Guidelines For Enaira by Enyimbamercedes: 11:20am On Oct 26, 2021
Bola146:
grin grin I need edollar please cheesy

Already exists.
Re: CBN Releases Guidelines For Enaira by Nobody: 11:22am On Oct 26, 2021
Nigeria is really a funny country, sometimes its government officials come up with really revolutionary ideas, either by mistake or by deliberation. But the big disappointment is the fact that they often fail to capitalise on the opportunities created by this initiatives.
Re: CBN Releases Guidelines For Enaira by redcliff: 11:25am On Oct 26, 2021
Parrot69:


Just shut up.
I don’t live in China but I make transactions via Alipay or Wechat pay. That is China version of online transaction. That what CBN is trying to imitate.
Go school and learn, una no wan go. Bunch of dumbos!

lol. what do we produce that someone wants to buy from us. did you check the limit? il forgive your ignorance. you do not know better.
Re: CBN Releases Guidelines For Enaira by Holluwhakemmy(f): 11:26am On Oct 26, 2021
Please what is it all about? I dont understand.
Re: CBN Releases Guidelines For Enaira by Parrot69: 11:39am On Oct 26, 2021
redcliff:


lol. what do we produce that someone wants to buy from us. did you check the limit? il forgive your ignorance. you do not know better.
I won’t pull myself down to your level to educate your ignorance in a layman’s terminology cos this isn’t basically for people on your level, But I hope the ignorance you have embroidered shouldn’t last for a year before you come to your senses.
Re: CBN Releases Guidelines For Enaira by redcliff: 11:43am On Oct 26, 2021
Parrot69:

I won’t pull myself down to your level to educate your ignorance in a layman’s terminology cos this isn’t basically for people on your level, But I hope the ignorance you have embroidered shouldn’t last for a year before you come to your senses.

Mr get sense. i should also inform you that alipay and wechat are peoples businesses and not peoples bank of china property. Enaira is as good as dead. o wont even argue with you again.. and yes, until you tell me how funding the wallet works, i would not trade arguements with you again because you do not know better
Re: CBN Releases Guidelines For Enaira by nextstep(m): 11:51am On Oct 26, 2021
Itohanmiwa:
For those with vision key into this opportunity by Nigeria, let the doubters continue doubting and I hope it isn't too late for them when they realise the opportunity their hate for this administration cost them. Nigeria will be great again this I know.

A government has not settled regular currency issues, telecoms, water, light, forex, petrol, and you're hopeful it will magically understand and properly manage a digital currency. So who determines the exchange rate from naira to this nonesense?

Of course some speculators will make money, but many people will lose their shirts as this digital currency is backed by the same CBN that causes products to double in cost every 4-5 years.
Re: CBN Releases Guidelines For Enaira by ihedioramma: 12:08pm On Oct 26, 2021
hakeem4:
no interest ooo
So is just buying and selling with it ?

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