Home Business CBN Announces USSD Code For eNaira Transactions

CBN Announces USSD Code For eNaira Transactions

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CBN Announces USSD Code For eNaira Transactions

CBN Announces USSD Code For eNaira Transactions

The Central Bank of Nigeria (CBN) has unveiled a new short code for subscribers of its digital currency, eNaira to make financial transactions on the platform. The aim is to enhance its acceptability with a focus on deepeningpayment system.

“I’m pleased and indeed delighted to inform you all today that by next week, Nigerians both banked and unbanked will be able to open an eNaira wallet and conduct transactions by simply dialing *997# from their mobile phones,”CBN Governor, Godwin Emefiele said yesterday at the grand finale of the eNaira Hackathon in Abuja.

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The CBN governor also announced that between October 2021 when it was launched and now, the eNaira has reached 840,000 downloads, with about 270,000 active wallets comprising over 252,000 consumer wallets and 17,000 merchant wallets. The volume and value of transactions on the platform have been remarkable, reaching above 200,000 and N4 billion, respectively.

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