eNaira

Introducing eNaira, the Central Bank of Nigeria's (CBN) digital currency.

What You Need to Know About eNaira

It is a digital currency issued by the Nigerian government with the same value with the fiat (regular) currency. It utilities block chain technology.

Objectives of eNaira

Financial inclusion
Fast and secured means of payments
Increase cross-border trade

4 Simple steps to register for eNaira

Download eNaira APP called Speed from APP store: create an account and select ProvidusBank as bank of choice.

Use the invitation code received from ProvidusBank to sign up

Authenticate yourself: – Enter BVN, Date of birth, email address, phone number, choose preferred password and a notification will be sent to you from your bank of choice.
You are good to go: – Fund your wallet with Providus Internet Banking or Mobile app and start sending, receiving and managing your eNaira.

FAQs

1. What is eNaira?

It is the digital version of the physical naira issued and regulated by Central Bank of Nigeria.

2. What is an eNaira wallet?

It is a digital storage that holds eNaira.

3. How do I fund my eNaira wallet?

You can easily fund your wallet directly from Providus Internet Banking or the Mobile APP.

4. What are the benefits of eNaira?

Fast, cheap, reliable payment channel
Financial inclusion of persons not yet in the financial system
Ease in social intervention programs
Support for digital economy
Simplified and easy cross-border payments and trade

5. What is the exchange rate between eNaira and physical Naira?

The eNaira will have same value as the physical Naira.

6. What makes eNaira different from money in the bank account?

The eNaira is the digital form of the physical cash and is a direct liability on the Central Bank of Nigeria while the customer deposits are direct liabilities on the financial institutions.

7. Will eNaira replace cash?

No, it will circulate alongside cash. The eNaira will complement cash as a less costly, efficient, generally accepted, safe and trusted means of payment.

8. Can I make transactions with the eNaira wallet?

Yes, you can pay merchants, billers and make P2P wallet transactions at zero cost.

9. How do I access eNaira?

Customers will be able to access eNaira via the eNaira wallet in app stores such as Google playstore and the Apple store.

10. Why do I need an invitation code?

The invitation code is one of the requirements to sign up on the eNaira wallet.

11. Is my eNaira wallet safe?

Yes, it is safe and secured.

For further enquiries kindly contact: walletservice_solution@providusbank.com