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eNaira Ranked First Global Retail CBDC As App Downloads Hit 756,000

The eNaira, Africa’s first digital currency, has risen to the top of the worldwide retail CBDC rankings, with app downloads increasing to 756,000 from 700,000 in December 2021.

PwC revealed the ranking in its 2022 CBDC Global Index and Stablecoin Overview. As of December 2021, the eNaira had received 700,000 downloads, with over 35,000 transactions completed on the platform.

AIHS 2022

In a virtual news conference held following the Bankers Committee meeting yesterday, Mariam Olusanya, the Managing Director of Guaranty Trust Bank, revealed that e-naira wallet downloads have increased to 756,000 in six months. In the first quarter of 2021, the eNaira increased by 56,000.

Mariam Olusanya said, “since it was launched we have seen 756,000 downloads of the app. In terms of consumer wallets, we have seen 165,000 downloads and 2,800 merchant wallet downloads.” 

While eNaira struggles to complete N188 million transactions in 3months, China’s e-CNY has outpaced it by completing 2 million yuan (approximately $315,761 or N131.35 million) in a single day. China’s Central Bank Digital Currency (CBDC), the e-CNY, is being used to make $315,761 or more of payments a day in its pilot at the Beijing Winter Olympics.

Africa’s first digital currency, eNaira, has recorded less than 10% in P2P transactions while Person to Bank and Bank to Person constitute 90% eNaira transactions.

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