CBN announces USSD E-naira code, to kickstart operations next week

President, Major Gen. Muhammadu Buhari (retd.) and the Governor of the Central Bank of Nigeria, Godwin Emefiele at the launch of the eNaira on Monday, in Abuja.

The Central Bank of Nigeria Governor, Godwin Emefiele, has revealed that from next week, Nigerians would be able to transact on eNaira wallet through the Unstructured Supplementary Service Data code on mobile phones.

The Central Bank of Nigeria (CBN) has issued the eNaira as legal tender, a digital currency supported by the law. It is the Naira’s currency in digital form.

Nigerians can open an eNaira wallet on any phone of their preference using the designated USSD code in addition to transacting, according to Emefiele.

According to him, Nigerians are only required to dial *997# from their phones to carry out transactions on their phones.

The CBN boss announced these at the Grand Finale of the 2022 eNaira Hackathon in Abuja on Thursday.

“Nigerians, both banked and unbanked, will be able to open an eNaira wallet and conduct transactions by simply dialling *997# from their phones.

“Shortly after this, both merchants and consumers with bank accounts can use the NIBSS Instant Payment (NIP) to transfer and receive eNaira to any bank account.

This will further deepen the integration of the eNaira with the existing national payment infrastructure”.

“The CBN will increase the level of Financial Inclusion in the Country because just like the Naira, the eNaira is expected to be accessible to all Nigerians. And would provide more possibilities to bring in the unbanked into the digital economy”.


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