A recent report has said that eNaira has witnessed a massive adoption as naira scarcity persists in Nigeria, with 63% wallet use and N22 billion transactions.
The Central Bank of Nigeria has promised to flood commercial banks with old notes beginning Thursday, March 23, 2023 as well as cancel all withdrawal limits
Naira gained massively on Monday, March 20, 2023 at the black market as Nigerians shunned dollars following the scarcity of the naira notes in the country.
Commercial banks have started paying the old naira notes to customers as directed by the CBN in obedience to a court order, but there is a withdrawal limit.
Naira recorded losses in value against the dollar across the official and unofficial foreign exchange markets as the CBN directed banks to accept old notes