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How To Get CBN E Naira

CBN E NAIRA

Often referred to as the Apex Bank, the Central Bank of Nigeria (CBN) is by default the biggest and most powerful bank in Nigeria. They are the bank of all other banks and the existence of all other banks in Nigeria is reliant on the permission of the CBN. However, they do not engage in regular commercial operations other Nigerian banks you know, so it begs the question, what really is or are the functions of the CBN? Below are some of their functions:

  • They issue license to all banks wishing to be established or operate in Nigeria
  • They are the primary obtainer of forex for the economy after export revenue
  • They regulate the activities of banks in Nigeria such as fixing interest rates on lending, reasonable terms of loan advancement etc.
  • They work with the ministry of finance to maintain the economy
  • They regulate the flow of money within the economy to prevent high inflation
  • They protect the Naira against devaluation through policies and guidelines
  • They aid SMEs within the economy to thrive through Grants & Loans
  • They serve as a primary banker to the Federal government and handle most of its transactions and Investments such as bonds, capital investments etc.
  • They maintain Nigeria’s external reserves
  • They serve as financial advisers to the Federal government etc

With the enormous power vested in the CBN, you can imagine how powerful the men who have been privileged to lead this bank were or are and what their names are. Well, these are the men who have been CBN governors since its inception:

 

S/N

CBN GOVERNORS

TENOR

1                        

Dr. Godwin Emefiele, CON

3/6/2014 – To Date

Mallam. Sanusi Lamido Sanusi, CON

4/6/2009 – 2/6/2014.

Prof. Chukwuma C. Soludo, CFR

29/5/2004 – 28/5/2009

Chief (Dr.) Joseph Oladele Sanusi, CON

29/5/1999 – 29/5/2004

5

Dr. Paul Agbai Ogwuma

1/10/1993 – 29/5/1999

6

Alahji Abdulkadir Ahmed

28/6/1982 – 30/9/1993

7

Mr. O. Ola. Vincent

28/6/1977 – 28/6/1982

8

Mallam Adamu Ciroma

24/9/1975 – 28/6/1977

9

Dr. Clement Nyong Isong

15/8/1972 – 24/9/1975

10

Alhaji Aliyu Mai-Bornu

25/7/1963 – 22/6/1967

11

Roy Pentelow Fenton

24/7/1958 – 24/7/1963

 

In addition to the above, below are the branches of the CBN across Nigeria:

S/N

LOCATION

ADDRESS

1

ABAKALIKI

No. 1 Nwene Street, Off Ezza Road, Abakiliki, Nigeria

2

ABEOKUTA

Ibrahim Babangida Boulevard, Abeokuta, Nigeria

3

ABUJA

Zaria Street, Garki II, Nigeria

4

ADO-EKITI

Secretariat road, Ado-Ekiti, Nigeria

5

AKURE

Old Secretariat Road, Nigeria

6

ASABA

Along Benin-Onitsha Expressway, Asaba, Nigeria

7

AWKA

37, Azikiwe Avenue, Awka, Nigeria

8

BAUCHI

Off Ahmedu Bello Way, Nigeria

9

BENIN

1, Akpakpava Road, Nigeria

10

BIRNIN-KEBBI

Sultan Abubakar road, Birnin Kebbi, Nigeria

11

CALABAR

8, Calabar Road, Nigeria

12

DAMATURU

2 GRA Road, behind Central Mosque, Damaturu, Nigeria

13

DUTSE

Sanni Abacha Way, Dutse, Nigeria

14

ENUGU

3, Garden Avenue, Nigeria

15

MAKURDI

Shitu Alao Road, Nigeria

16

GOMBE

Off Shehu Abubakar Road, Opposite Deputy Governors

17

GUSAU

J.B.Yakubu St. Opposite Access Bank, Gusau

18

IBADAN

Oba Adebimpe Road

19

LAGOS

Tinubu Square, Ikeja

20

ILLORIN

1, Sulu Gambari Road

21

JALINGO

Barde Way, Opposite PHCN Office, Jalingo

22

JOS

 4, Noad Avenue, Nigeria

23

KADUNA

1A Yakubu Gowon Way, Nigeria

24

KANO

4A, Lagos Street, Nigeria

25

KATSINA

WTC Road, Katsina

26

LAFIA

Shendam Road, Lafia

27

LOKOJA

Government House Road, Opposite Government House Lo

28

MAIDUGURI

3, Kirikasama Road, Nigeria

29

MINNA

Paiko Road, Minna, Nigeria

30

OSHOGBO

Plot 4 Gbogon Road, Osun GRA, Oshogbo, Nigeria

 

E-NAIRA

The E-Naira is an electronic version of the Nigerian naira, developed, issued and monitored by the Central Bank of Nigeria. It is a medium of exchange, having the same value and full legality of the regular naira but in an electronic form an stored in a unique e-wallet, hence the “E” before naira viz E-Naira.

BENEFITS OF THE E-NAIRA

You’re probably wondering what the E-Naira brings as a benefit. Why should you spend your time trying to get E-Naira when you already have the regular naira in cash and can also control via electronic means the ones you have in your accounts without hassle? Well, below are a few benefits of the E-Naira.

  • It reduces fraud chances as it is fully monitored and traceable by the CBN
  • It is secure as it cannot be forged
  • It saves the CBN the cost of printing more notes
  • It has a global accessibility as it can be held and accessed anywhere around the world
  • Transactions with the E-Naira attract lesser charges than regular transactions
  • It makes remittance such as taxes easy and faster

HOW TO REGISTER FOR THE E-NAIRA

I guess you are wondering how you can get access to the E-Naira or where you can register to get it. It’s pretty simple:

  • Download the E-Naira app from the PlayStore (Android) or App Store (iOS) or visit the E-Naira website – https://www.enaira.gov.ng/
  • Enter minimum identification details (i.e., NIN, BVN, or KYC/AML Information, depending on the customer tier you are).
  • Enter other identification details (i.e., Name, Place and Date of Birth, Phone Number, Passport Photograph, Email and Password).
  • Minimum ID is validated.
  • Log in to account

10 FREQUENTLY ASKED QUESTIONS ABOUT THE E-NAIRA

  1. Is the E-Naira a cryptocurrency?

No! It is basically the same as your physical naira but in an electronic form

  1. Can the E-Naira be transferred to and from my regular bank account?

Yes, it can.

  1. What is E-Naira wallet?

The eNaira wallet is a digital storage that holds the eNaira. It is held and managed on a distributed ledger. The eNaira wallet is required to access, hold and use eNaira.

  1. Can I pay with my eNaira and cash at the same time for a transaction?

Yes. The eNaira and Cash are all variants of the legal tender. Either or both can be used to carry out transactions as the situation demands.

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

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

  1. As an eNaira holder, am I assured of data privacy?

Yes. Similar to the privacy enjoyed by current online banking patrons, the eNaira system has been designed to ensure data and user privacy. There are also operational policies and procedures in place to protect users’ identity and privacy.

  1. Who can access eNaira?

Similar to cash, any person or business can have access to eNaira as long as they have the requirements for onboarding.

  1. How does a customer identify stores/shops and outlets that accept eNaira?

While efforts will be made to put signages and decals at designated merchant locations, customers can simply ask the merchants if they accept eNaira

  1. How do I connect my eNaira wallet to my bank account?

The eNaira app allows customers to identify a bank of their choice, connect to their bank accounts and perform transactions.

  1.  How do I resolve failed transactions or raise enquiries on eNaira?

Reach out to the customer support of the bank you selected when registering for eNaira through their available channels which include: phone, email, whatsapp, etc. Disputes will be resolved as soon as possible.

If issues are not resolved within 48 hours, send an email to CBN’s eNaira Customer Support via h[email protected]

These are some important information about the CBN and the eNaira. You can find more information on CBN website https://www.cbn.gov.ng/ or on the eNaira website which has been posted somewhere above in this article.

 

 

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