eNaira is the Nigerian digital currency that is issued and regulated by the Central Bank of Nigeria.
Its functionality delivers speedy, safe, and simple trading and transactional opportunities to customers and end-users
Your eNaira wallet offers a great way of making purchases with retailers on-site, transferring or sending money while tracking rewards programs.
While efforts will be made to put signages and decals at designated merchant locations, customers can simply ask the merchants if they accept eNaira.
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
In order to move cash into your eNaira wallet, kindly go to your bank.
You can link the e-wallet to your bank account or pay as you go with a prepay option. In addition, the embedded security token system makes your information unreadable to fraudsters because tokens are randomly generated every time you make a payment.
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eNaira Is
It is exchanged peer to peer.
It is universal – anybody can hold it.
It does not yield any interest.
To sign-up on the eNaira speed wallet, you would be required to input the following details exactly as captured during your BVN enrollment.
First Name, Last Name, Date of Birth, State of Origin, and Email
Your Banks are waiting to assist you in validating and updating your BVN details to ensure seamless enrolment to the eNaira Platform.
eNaira Have Different Customer Tiers
Tier Zero – Customers without Existing Bank Account and without Verified NIN
Minimum Account Opening Requirement: Phone Number
Daily Transaction Limit: N20,000
Maximum Cumulative Daily Balance: N120,000
Tier One – Customers without Existing Bank Account
Minimum Account Opening Requirement: NIN
Daily Transaction Limit: N50,000
Maximum Cumulative Daily Balance: N300,000
Tier Two – Customers With Minimal Spending Abilities
Minimum Account Opening Requirement: BVN
Daily Transaction Limit: N200,000
Maximum Cumulative Balance: N500,000
Tier Three – Customers With Regular Spending Abilities
Minimum Account Opening Requirement: BVN
Daily Transaction Limit: N1,000,000
Maximum Cumulative Balance: N5,000,000
The Fourth Customer Tier (The Merchants/Business Tier)
Tier Four – Customers with regular spending abilities
Minimum Account Opening Requirement: Full KYC as stipulated in the CBN’s AML/CFT Regulations
Daily Transaction Limit: N1,000,000
Maximum Cumulative Balance: Unlimited
eNaira Account Opening Steps For individual
Download eNaira app.
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.
You receive an email to activate your wallet.
Log in to account
eNaira Account Opening Steps For Business
Merchant downloads eNaira Mobile App.
Enters invitation code from bank and validates it.
Enters minimum identification details (i.e., Full KYC as stipulated in the CBN’s AML/CFT Regulations).
Enter your TIN (Tax Identification Number).
TIN is verified, entes other identification details (i.e., email, password, Business Category, Legal Business Name).
Financial Institutions verifies application.
eNaira wallet created and activated.
Merchant and Financial institution receives notification.
MDAs Onboarding to eNaira Wallet
MDA Downloads App.
Login with MD code.
Enter account (TSA/T24 Account).
eNaira wallet created awaiting verification from CBN.
CBN verify and notify MDA.
MDA proceed to top up.
