Nigerian central bank adds NFC upgrade to eNaira for contactless payments
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Despite the former governor’s ousting nearly two months ago, the
Nigeria launched its eNaira in 2021 to be part of an exclusive group of countries with a CBDC offering. However, adoption rates have fallen below expectations, prompting the central bank to explore several options to drive usage.
The central bank rolled out use cases in the transport sectors while including USSD functionality in the offering. With low adoption rates, former CBN Governor Godwin Emefiele blamed commercial banks for stifling eNaira’s growth in favor of their profitability.
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