Check Out What Makes eNaira Different From Money In Your Bank Account

The central bank of Nigeria, CBN has declared that eNaira is different from the money in your bank account. Read up for more information.

Jameela News gathered that eNaira is a central bank digital currency (CBDC) issued by the Central Bank of Nigeria as a legal tender. It is the digital form of the Naira and will be used just like cash.

eNaira is the digital form of cash and is a direct liability on the Central Bank of Nigeria while the customer deposits are direct liabilities on the financial institutions.

These are different tiers of wallets and they include:

0 – No Existing Bank Account + NIN+ verified telephone number + Daily limit(20,000), Cummulative limit(120,000)
1 – No Existing Bank Account+ Daily limit(50,000), Cummulative limit(300,000)
2 – Has an Existing Account + BVN + valid means of identification + Daily limit(200,000), Cummulative limit(500,000)
3 – Has an Existing Account + Tier 2 requirement + public utility receipt + Daily limit(500,000), Cummulative limit(5,000,000)