Lagos Missing as North Leads in eNaira Adoption in Nigeria

Lagos Missing as North Leads in eNaira Adoption in Nigeria

  • Nigeria;s digital currency, the eNaira is making massive strides and is being adopted in more states in the country
  • Borno, Gombe and Taraba states are among the top states in the Northern part of Nigeria which have seen wide adoption of the digital currency
  • Lagos State, the commercial nerve centre of Nigeria is not among the top 20 states which have adopted the eNaira

Nigeria’s commercial capital, Lagos State is conspicuously missing among the top states with the highest adoption of Nigeria’s digital currency, the eNaira.

Data from Google Trends show that the eNaira is really popular in the Northern states in Nigeria.

The eNaira
The eNaira
Source: UGC

Data don't lie

Nairametrics data, verified by Legit.ng, shows that Borno state is leading with 81 per cent adoption followed by Sokoto, Gombe and Taraba states.

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Lagos missing as eNaira is Popular in Borno, Sokoto, Gombe, CBN reveals over 100,000 wallet activated

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The eNaira is targeted at the grassroots and is meant to drive financial inclusion in the rural areas, and to pull in the unbanked and underbanked population.

A new dawn for the eNaira?

Experts predict that Nigeria’s digital currency will see massive adoption in 2022.

The eNaira is at par with the physical naira and is stored in a wallet electronically.

The eNaira Speed wallet account registration is simple and has inbuilt security features that ensure account holders’ information is protected.

Banks with the highest number of activated consumers wallets include Access Bank, Zenith Bank, First Bank, UBA, Polaris Bank and Ecobank.

Twenty thousand merchant wallets were active with about 20 per cent domiciled with Ecobank, Union Bank, Stanbic IBTC, and Ecobank.

CBN confirms giant strides of the eNaira

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Legit.ng reports that The Central Bank of Nigeria says the recently launched eNaira is breaking bounds and has recorded over 34,000 transactions totaling N188 million on its platform.

CBN’s Controller, Enugu branch, Ch’Edozie Okonjo said this at the 2021 Annual Bankers Dinner and Lecture organised by the Enugu branch of the Chattered Institue of Bankers of Nigeria (CIBN), on Friday, December 10, 2021 as per a report by Nairametrics.

According to Okonjo, the COVID-19 pandemic has accelerated the global shift to online events and contactless payments.

Source: Legit.ng

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