Nigeria crypto currency called eNaira.

[Supreme Donvic]

The Nigeria government has something called the eNaira and it’s a cryptocurrency however it is a centralized currency and is controlled by the Nigeria government, so it’s just a digital form of the Nigerian naira issued and backed by the Central Bank of Nigeria (CBN), People and businesses can use a digital wallet app to send, receive, or store eNaira, but this eNaira is not listed on cryptocurrency exchange like Binance lists Bitcoin and other cryptocurrencies on there exchange.
But I think they should work on making it to be listed on other exchange and it can stay there just like USDT and become a stable coin.
I think Nigeria is the first country in Africa to adopt this idea of having a cryptocurrency. I love the reason for its adoption they need to develop it more.

[MisFoxie]

The Nigeria government has something called the eNaira and it’s a cryptocurrency however it is a centralized currency and is controlled by the Nigeria government, so it’s just a digital form of the Nigerian naira issued and backed by the Central Bank of Nigeria (CBN), People and businesses can use a digital wallet app to send, receive, or store eNaira, but this eNaira is not listed on cryptocurrency exchange like Binance lists Bitcoin and other cryptocurrencies on there exchange.
But I think they should work on making it to be listed on other exchange and it can stay there just like USDT and become a stable coin.
I think Nigeria is the first country in Africa to adopt this idea of having a cryptocurrency. I love the reason for its adoption they need to develop it more.

It's may build on Blockchain technology but it doesn't give freedom like other cryptocurrency does.  On surface it look like a big move but it's still run like same banking way. We can't get even get full control of our fund, It has less privacy that other crypto so I'm out. But It may help in transection cost and fast transection. I may use eNaira for emergency use but to invest or savings I'm still with Bitcoin.

[Rockson1]

The Nigeria government has something called the eNaira and it’s a cryptocurrency however it is a centralized currency and is controlled by the Nigeria government, so it’s just a digital form of the Nigerian naira issued and backed by the Central Bank of Nigeria (CBN), People and businesses can use a digital wallet app to send, receive, or store eNaira, but this eNaira is not listed on cryptocurrency exchange like Binance lists Bitcoin and other cryptocurrencies on there exchange.
But I think they should work on making it to be listed on other exchange and it can stay there just like USDT and become a stable coin.
I think Nigeria is the first country in Africa to adopt this idea of having a cryptocurrency. I love the reason for its adoption they need to develop it more.

Let me start by asking you this question, do you think people that invented the eNaira ready make it what you want or to be, I do not think so, Nigeria is know for starting up something that looks good at the beginning but end up abandoning it, my second question is, and another thing you must know is that, I do not think that me and you will want to be involved in that, do you want to lwnk why,  because many of us frown at anything that concerns centralization, or will you want to? No Bitcoin enthusiasts will want head that way, we do no trust our government am aware that you know that, so will you want to do any shit with, I already know your answer to this question.

[Karl_3000]

Enaira is not a cryptocurrency.

It's may build on Blockchain technology but it doesn't give freedom like other cryptocurrency does.  On surface it look like a big move but it's still run like same banking way. We can't get even get full control of our fund, It has less privacy that other crypto so I'm out. But It may help in transection cost and fast transection. I may use eNaira for emergency use but to invest or savings I'm still with Bitcoin.

There is no other CBDCs that are coins, even the digital Chinese Yuan is not listed on exchanges or Coinmarketcap as a coin. The government let people know that CBDCs are build using blockchain technology but they are not cryptocurrencies.

Nigeria is know for starting up something that looks good at the beginning but end up abandoning it, my second question is, and another thing you must know is that, I do not think that me and you will want to be involved in that, do you want to lwnk why,  because many of us frown at anything that concerns centralization, or will you want to?

It is not about centralization and also not about abandoning enaira,l. Is enaira having any good reason to exist when we can send naira digitally using banks and Fintechs? CBDCs have no usefulness that the money we are sending through banks and Fintechs can not do used for. So why CBDCs?

[SPIDERMAN008]

eNaira will not be used as a cryptocurrency. It is just a digital form of Naira. It is a digital form of fiat currency controlled by the government. The government will have direct intervention here. Unlike cryptocurrencies, the price changes in a very short time, but eNaira is not like that. Its value is 1 eNaira = 1 Naira every day. It would be a misunderstanding to confuse it with cryptocurrency.

[Hypnotizer]

It is not about centralization and also not about abandoning enaira,l. Is enaira having any good reason to exist when we can send naira digitally using banks and Fintechs?

CBDCs have absolutely no use, that was why the eNaira failed to serve the purpose why it was created..if I remember correctly, it was created in 2021 and at that time Fintechs weren’t that much popular amongst merchants but still fintechs overtook it and many people especially merchants prefer collecting their payment through fintechs and I don’t think there are people using the eNaira right now maybe some people even forgot it existed.

Enaira is not a cryptocurrency.

Sure, CBDCs aren’t cryptocurrencies..the OP could have researched more before creating this thread, they are just digital versions of the cash offered by the central banks.

[DiMarxist]

I can't classify Enaira as a crypto currency, It's simply an online medium that the central banks of Nigeria developed for more efficient and convenient way of sending and receiving money especially for the business sector. The Enaira stuff has been there for a while the probability of notable exchanges listing the Enaira on their platforms is low because, the fact is that the Nigerian government has not done enough in for it to be listed. Another reason is that Enaira was not developed as a crypto currency the purpose of setting up the Enaira is another thing to consider.

[Fivestar4everMVP]

The Nigeria government has something called the eNaira and it’s a cryptocurrency however it is a centralized currency and is controlled by the Nigeria government, so it’s just a digital form of the Nigerian naira issued and backed by the Central Bank of Nigeria (CBN), People and businesses can use a digital wallet app to send, receive, or store eNaira, but this eNaira is not listed on cryptocurrency exchange like Binance lists Bitcoin and other cryptocurrencies on there exchange.
But I think they should work on making it to be listed on other exchange and it can stay there just like USDT and become a stable coin.
I think Nigeria is the first country in Africa to adopt this idea of having a cryptocurrency. I love the reason for its adoption they need to develop it more.

Lol, eNaira to be best of my knowledge is not a crypto currency my brother, that a currency is operated online does not make it a crypto currency, but if you want to disagree with me, then I will like you to tell me the block chain upon which the central bank of Nigeria built eNaira on?

Any coin, or currency without a block chain is not qualified and can not be considered a crypto currency, eNaira is simply a digital form of the Naira, it's no different from Numbers on the Internet except for the fact that CBN claims that numbers are backed by the physical naira we use on our daily life..
As long as the eNaira does not operate on a blockchain, it's no different from the numbers you see on your account as your balance every time you open your banking app, learn what a cryptocurrency is before you categorize eNaira as a cryptocurrency.

[Jubilee58]

As much as I know any centralized currency cannot stand against inflation, this enaira is not an asset for investment and since the eNaira was launched till date , I don't see people talking about it and many Nigerians do not care about it because Nigerians have seen keeping money in eNaira will cause more inflation and financial devaluation, instead we should focus on putting our money in Bitcoin which is a sure investment that can give us potential profit on the long run and save us from economic failure.

[casey15]

For me I really wouldn't classify eNaira as a crypto currency sha.
I understand say the government been dey try make am as stable coin like the way USDT be but people nor really gbadu am like that.
The reason j think say the project fail na because unlike USDT that is used worldwide na only for naija you fit use the eNaira and many small businesses nor even know say something like that even exist and people nor come know how to use am. I feel say the government suppose tell people, suppose educate people well, e for still take time to get used to but at least them for continue to promote am, them for nor let am die like that. Another thing be say naira itself nor really strong reach and e nor get better buying power and tfat one too affect am.

[SatoPrincess]

In my opinion, the Nigerian government created E-naira due to pressure from western governments to implement CBDCs. They soon realized that it was a failed project and Nigerians were not going to use it. E-naira quickly became a thing of the past, the government is more concerned about implementing tax laws and budgets, I don’t see them pushing for CBDCs unless they see monetary benefits for themselves.