The Nigerian eNaira – All You Need to Understand


The Nigerian Central Bank of Nigeria had introduced eNaira and made available for all Nigerians to use daily.

The introduction o eNaira became necessary for the Nigerian economy to be better and improve at all facets of economy.

About eNaira

When the idea was mooted, it was not a bandwagon response to create a CBDC like the rest of the world. We set out with a plan to become a trusted ally to the numerous customers we will serve and our roots continue to be firmly grounded in them. We know what they need because we listen to them every step of the way. No matter where we are in the journey, our goal remains the same – you.

Sincere Objectives of eNaira

eNaira enables households and businesses to make fast, efficient, and reliable payments, while benefiting from a resilient, innovative, inclusive, and competitive payment system.

. Our Principles

. Inclusive Economy.

. Innovation

. Efficiency

. Resilience

. Proudly Nigerian

How to Get Started with eNaira Your eNaira wallet offers a great way of making purchases with retailers on-site, transferring or sending money while tracking rewards programs. You can link the e-wallet to your bank account or pay as you go with a prepay option. In addition, the embedded security token system makes your information unreadable to fraudsters because tokens are randomly generated every time you make a payment.

Read – Apply for FG N-Skills Entrepreneurship Training

eNaira Payment Options Keeps The Customers Coming Back

eNaira helps your customers pay for your services with such ease that keeps them coming back. With the platform, your customer base spreads beyond the shores of Nigeria because overseas payment is not just possible but fast and even cheap. The more the patronage, the more profit.


Adopting eNaira payments enables customer satisfaction for a sustainable and scalable business

Get Government Business Support Allowance

eNaira makes it easier for you to get support allowance from the government because the CBN has your wallet information and can make direct deposits on behalf of the government.

Easy Payment For Customers

eNairagives your customers a super-easy payment option through its QR Code Scan feature and it makes them keep coming back.

Foreign Business Partnership

eNairapromotes efficient and straightforward cross-border payments which fosters profitable foreign business partnerships.

Boost of eCommerce

eNairapeer-to-peer payment feature facilitates a boost in eCommerce and give the in-mall experience to friends physically separated by distance.

Unlocking New Markets

eNairaopens up a whole new customer base you did not know existed, with the increased customers, business growth is guaranteed.

Sell Across Borders

WitheNaira businesses can easy make sales in any country because the eNaira is 100% local and 100% global.

Fund Wallet – My Account 

Whether you want to start saving or servicing your bills or investing the eNaira, it all begins with funding your eWallet. Interestingly, the process is easy and fast for every category. There are also three different options to choose from. You will find all the details and a step-by-step guide here.

Same Naira, More Possibilities.

The eNaira is the Nigerian digital currency that is issued and regulated by the Central Bank of Nigeria. Its functionality delivers speedy, safe, and simple trading and transactional opportunities to customers and end-users:

It is exchanged peer to peer.

It is universal – anybody can hold it.

It does not yield any interest.

Account Opening Guides 

  • Download Speed App.
  • Enter minimum identification details (i.e., NIN, BVN, or KYC/AML Information, depending on the customer tier you are).
  • Enter other identification details (i.e., Name, Place and Date of Birth, Phone Number, Passport Photograph, Email and Password).
  • Minimum ID is validated.
  • Log in to account

eNaira Customer Tiers 

  • Tier Zero – Customers without Existing Bank Account and without Verified NIN
    • Minimum Account Opening Requirement: Phone Number
    • Daily Transaction Limit: N20,000
    • Maximum Cumulative Daily Balance: N120,000
  • Tier One – Customers without Existing Bank Account
    • Minimum Account Opening Requirement: NIN
    • Daily Transaction Limit: N50,000
    • Maximum Cumulative Daily Balance: N300,000
  • Tier Two – Customers With Minimal Spending Abilities
    • Minimum Account Opening Requirement: BVN
    • Daily Transaction Limit: N200,000
    • Maximum Cumulative Balance: N500,000
  • Tier Three – Customers With Regular Spending Abilities
    • Minimum Account Opening Requirement: BVN
    • Daily Transaction Limit: N1,000,000
    • Maximum Cumulative Balance: N5,000,000

The New eNaira Speed Wallet 

The new eNaira Speed Wallet App (Combo) is designed and implemented to meet your expectations concerning user interface (UI/UX), improved security features, proudly Nigerian content, and a variety of other features to make your experience on the app worthwhile.

The eNaira Apps in One

The Speed App is now a combo wallet i.e the consumer and merchant wallets are now on the same app. For those that have both consumer and merchant wallets, now you only need to have a single eNaira speed wallet app on your phone.
The 10 Digits Number 
We have introduced a 10-digit NUBAN for all wallets. You can use your NUBAN to make payments, receive payments and login to your eNaira Speed Wallet Account.
eNaira Interface 
User experience on applications is key for ease of use and user satisfaction. Multi-Theme (Light, Dusk and Dark) have been introduced. You can now change your themes to Light, Dusk or Dark.
Supported Languages
The new eNaira Speed Wallet App now supports three major and one foreign language. (Yoruba, Hausa, Igbo & French). We believe that our culture should reflect on the app so Nigerians can personalize their experience.
eNaira Personalisation Features
Profile Pictures and Themes have been introduced. Users can now upload their beautiful pictures on their profile while setting the themes to soothe their eyes sights
Security Features 
The eNaira Speed App comes with improved security features to ensure the safety and privacy of our users. Users are now required to create 4-digit PIN codes to approve transactions with a unique password/biometric (fingerprint) authentication for login and a PIN to authorize transactions.
eNaira Device Authentication 
We have also introduced device authentication (one device to one user profile), authenticated change of device for theft prevention, and an authenticated password management button.
eNaira Transactional Safeties 
The eNaira Speed Wallet comes with SMS/email/in-app alert notification for all transactions (Receipt & Payment). Consumers, Merchants, and their employees can now receive SMS notification for all payments using their individual employee wallet address/eNaira Tag.
eNaira Validation 
Recipient Name Validation at Payments have been introduced: Users are able to validate destination wallet address before transactions are consummated. The eNaira Speed wallet QR code is now branded for ease of identification.
Merchant Employee Management Details 
The employee management feature enables Merchants to assign roles, responsibilities, and permissions to an employee based on their job description (e.g Cashier, Teller, Auditor, Authorizer & Payment officers). Each employee has a unique QR Code, but all payments will impact the Parent Merchant wallet Account.
eNaira Payment Approval Workflow 
Payment from a merchant wallet now triggers workflow functionalities. Approval will be required to debit a merchant account.
Referral Code and Benefits 
The referral code is a feature that makes it easy to invite family, friends, business partners, and community members on your contact list to the eNaira platform by clicking on the referral button to generate your alias, which is then sent to the intended receipt to onboard (sign-up) onto the eNaira Speed Wallet.
Help Desk 
The help desk link has been embedded into the new eNaira Speed Wallet App. This contains relevant links to Customers social media handles. Our help desk run 24/7 all year long. You are just a click away from getting you enquires/complaints resolved.