The President, Muhammadu Buhari, on Monday, has launched the eNaira platform.
The launch of the eNaira is expected to see the Central Bank of Nigeria advancing the boundaries of payments system in Nigeria.
Speaking on the launch, CBN Governor, Godwin Emefiele, described the new eNaira as the first in Africa and one of the earliest around the world.
Emefiele said: “Mr President, today you make history, yet again, with the launch of the eNaira – the first in Africa and one of the earliest around the world.
“Mr. President, as you make groundbreaking reforms, there has been continuing debate on the true value of the Naira.
“Rather than worry today on the direction of the exchange rate, let us take a step back and analyse how we got here in the first place.”
Before the launch, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, stated that the eNaira would operate as a wallet against which customers can hold existing funds in their bank account.