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What you need to know about the eNaira

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.


The eNaira wallet is a digital storage that holds the eNaira. It is held and managed on a distributed ledger.
The eNaira wallet is required to access, hold and use eNaira.

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

For smart phone users, download the eNaira app (termed “Speed”) from either the Google Play Store or Apple Store and complete the registration process.
For feature phone users, utilize USSD codes and follow the registration prompts.

The eNaira app allows customers to identify a bank of their choice, connect to their bank accounts and perform transactions.

What are different tiers of eNaira wallets?

No Existing Bank AccountNIN verified telephone number20,000120,000
1No Existing Bank AccountNIN verified telephone number50,000300,000
2Has an Existing AccountBVN + valid means of identification200,000500,000
3Has an Existing AccountTier 2 requirement + public utility receipt500,0005,000,000
Source: CBN, September, 2021

How do I resolve failed transactions or raise enquiries on eNaira?

Reach out to the customer support of the bank you selected when registering for eNaira through their available channels which include: phone, email, whatsapp, etc. Disputes will be resolved as soon as possible.
If issues are not resolved within 48 hours, send an email to CBN’s eNaira Customer Support via helpdesk@enaira.com

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Is eNaira wallet safe?

Yes. The eNaira system uses a two-factor authentication system in addition to cryptographic encryption to ensure the safety of customers’ wallets and the eNaira holding. You can also reset your password within the App by navigating to the settings menu.

CBN has said in its guideline that  financial institutions will be required to maintain a treasury eNaira wallet for holding and managing eNaira on the Digital Currency Management System (DCMS).

The regulator also added that banks have been part of the establishment of the e-Naira.

 “Integral to the establishment of eNaira is the necessity to build more synergy with financial institutions. “The framework of e-Naira is such that it entrenches many pipelines of collaboration and further strengthens financial institutions core service delivery.

“By its very nature with regards to its mandates, e-Naira enhances the structures of these institutions instead of replacing same. “Financial institutions act as bridges between customers and the CBN. This increased customer interaction can help them adopt better customer support models.”

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