Central Bank of Nigeria (CBN)

Four news stories.

• Should Central Bank of Nigeria (CBN) be in the NFCW Expo? Is this your organisation? Find out how to get your NFCW Expo showcase.

Nigeria adds support for NFC payments using eNaira CBDC

By Tom Phillips • 4 August 2023 • Updated 4 August 2023

Smartphone with Nigerian cbdc enaira app

The Central Bank of Nigeria (CBN) is enabling consumers and merchants to use their smartphone to make and receive contactless in-store and P2P payments with the country’s eNaira central bank digital currency (CBDC) using NFC, even if they are offline, according to local media reports... More

Central Bank of Nigeria limits cash withdrawals to drive CBDC and digital payments adoption

By Tom Phillips • 8 December 2022 • Updated 8 December 2022

The Central Bank of Nigeria (CBN) is restricting the amount of cash that consumers and businesses can withdraw from ATMs to 20,000 naira (US$45) per day and 100,000 naira (US$225) per week... More

Nigeria to let consumers use feature phones to make payments with national digital currency

By Tom Phillips • 23 June 2022 • Updated 23 June 2022

The Central Bank of Nigeria (CBN) is to enable consumers without smartphones to make transactions with the country’s eNaira central bank digital currency (CBDC) on devices such as feature phones using unstructured supplementary service data (USSD) codes that work in a similar way to SMS messages... More

What's New in Payments

Central Bank of Nigeria issues nearly 500,000 eNaira wallets since launching CBDC

By Tom Phillips • 17 November 2021 • Updated 17 November 2021

Nigeria's eNaira wallet on PC, tablet, smartphone and watch

More than 488,000 consumers in Nigeria have downloaded an eNaira digital wallet and conducted transactions worth a total of 62m naira (US$151,000) in the country’s central bank digital currency (CBDC) since its launch in October, according to a Central Bank of Nigeria (CBN) spokesman... More