E_Naira Overview

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The Journey

Where We’re Coming From And Where We’re Headed

When the idea was mooted, it was not a bandwagon response to create a CBDC like the rest of the world. We set out with a plan to become a trusted ally to the numerous customers we will serve and our roots continue to be firmly grounded in them. We know what they need because we listen to them every step of the way. No matter where we are in the journey, our goal remains the same – you.

 

E-Naira Account Opening Steps

For Individual

  • 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

For Business Owner

  • 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.
  • 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

For MGAs

  • MDA Downloads App.
  • Login with MD code.
  • Enter account (TSA/T24 Account).
  • eNaira wallet created awaiting verification from CBN.
  • CBN verify and notify MDA.

Hope this will this will assist.

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