This article will help you go about eNaira registration and get your own digital currency wallet! The eNaira wallet is a digital payment platform introduced by the Central Bank of Nigeria, aimed at providing a secure and convenient way for individuals to make transactions using their mobile phones. In this guide, we will walk you through the step-by-step process of registering for the eNaira wallet, enabling you to take advantage of this innovative digital payment solution. Whether you’re new to mobile banking or just looking to explore this new platform, we’ve got you covered with all the information you need to get started. Let’s dive in!
Table Of Contents
What is eNaira?
The eNaira is an electronic version of Nigeria’s national currency, the Naira, and it holds the same value as the physical currency. Unlike decentralized cryptocurrencies, the eNaira is regulated by the Central Bank of Nigeria (CBN). It is considered a Central Bank Digital Currency (CBDC), meaning it exists solely in digital and electronic form while being under the supervision of the CBN.
The eNaira will have a one-to-one parity with the Naira, making it legal tender and distinct from cryptocurrencies. This fundamental difference ensures that the eNaira operates within a centralized and institutional framework, maintaining the government’s control over the currency.
The CBN is collaborating with Bitts Inc., a technical fintech partner, to facilitate the eNaira project. By leveraging blockchain technology, the CBDC aims to provide a platform for the government to exercise its centralized role in managing and governing the currency.
How to Register for E-Naira Wallet 2023
Sure! Here’s a step-by-step guide on how to register for an eNaira wallet:
- Step 1: Download the eNaira app from your app store or the official website.
- Step 2: During the registration process, you will be prompted to enter an invitation code provided by your bank. Type in the invitation code accurately.
- Step 3: Enter the minimum identification details required for your customer tier. This may include your National Identification Number (NIN), Bank Verification Number (BVN), or other KYC/AML information as specified.
- Step 4: Provide additional identification details, including your full name, place and date of birth, phone number, passport photograph, email address, and password. Fill in the required fields accurately.
- Step 5: Validate your minimum identification details. The eNaira system will verify the information you provided.
- Step 6: Wait for a notification from your financial institution, confirming the successful registration of your eNaira wallet. This notification may be sent via email, SMS, or through the eNaira app.
- Step 7: Once you receive the confirmation, proceed to log in to your eNaira wallet using the registered email address and password. Follow the login instructions provided in the notification.
How to Download eNaira Application
Do you want to get your own digital wallet account on eNaira? To download the eNaira app and access the eNaira wallet on your Android phone, follow these step-by-step instructions:
- The first thing to do is to unlock your Android phone and go to the home screen.
- Locate and tap on the “Google Play Store” app. It is usually represented by a white shopping bag icon with a colorful triangle on it.
- Once the Google Play Store app opens, tap on the search bar at the top of the screen.
- Type “eNaira Speed Wallet” (without quotes) in the search bar and press the Enter key or tap the search icon.
- From the search results, locate the official eNaira Speed Wallet app and tap on it.
- On the app page, you will find information about the eNaira Speed Wallet. Tap on the “Install” button.
- Review the permissions required by the app and tap on the “Accept” or “Install” button to proceed with the installation.
- Wait for the app to download and install on your Android phone. The progress will be indicated by a downloading bar or circle.
- Once the installation is complete, you will see an “Open” button. Tap on it to launch the eNaira Speed Wallet app.
Congratulations! You have successfully downloaded and installed the eNaira Speed Wallet app on your Android phone. You can now access your eNaira wallet, hold eNaira tokens, perform transactions, and monitor your cash flow through the app.