Africa’s first digital currency, eNaira, issued by the Central Bank of Nigeria (CBN), as part of its central bank digital currency (CBCD) programme, is projected to be running on about 10,000 downloads per day, dpd, in the second quarter of this year, Q2’22. This projection by a source in one of the commercial banks leading in the eNaira platform, follows the 7,300 dpd recorded in the first quarter of the year, Q1’22.
However, the source also indicated that though the downloads record is not doing badly given the relative novelty of the product, the operators are concerned with the low level of Person-to-Person, P2P, transaction, indicating that actual usage by individuals is not as active as the downloads.
But he disclosed that Person-to-Bank and Bank-to-Person have remained upbeat constituting about 90% eNaira transactions so far.
CBN has stated that the eNaira transactions recorded range from P2P; Person to Merchant, P2M; Bank to Person; Person to Bank and Bank to Merchants and Merchants to Bank.