How to Create eNaira Account and Download eNaira Wallet App

eNaira Wallet: Here is How to create eNaira account, Buy eNaira, Download e-Naira App & e-Naira Wallet, eNaira current price and eNaira Mining.

How to Create eNaira account and Download e-Wallet App

e-Naira Digital Currency

eNaira is issued by Central Bank of Nigeria as a legal tender and it is also the digital form of the naira and will just be like cash. e-Naira official website is:

The eNaira will ensure transparency in taxation systems for governments; facilitate the instant cross-border foreign exchange to boost economic growth, and minimize fraudulent activities such as money laundering, and illegal money deals because of the trackable unique ID of each eNaira.

ALSO READeNaira Wallet: All You Should Know About The Nigerian Digital Currency

Is the Digital eNaira Like Bitcoin?

No. Bitcoin is a so-called decentralized cryptocurrency. That means that it is not controlled by any central authority like a central bank, unlike the digital eNaira which will be issued by the CBN.

Bitcoin is also built on a technology known as blockchain. It’s unclear at this point what kind of technical make up the digital eNaira would have.

Proponents of bitcoin also tout the anonymity of the digital currency.

Is the Digital eNaira a Stablecoin?

Yes. The eNaira is a form of stablecoin because it is a government-backed digital currency.

stablecoin is a digital currency that is linked to an underlying asset such as a national currency or a precious metal such as gold. The main types of stablecoins include fiat-backed, cryptocurrency-backed and commodity-backed stablecoins.

How to Download and Use eNaira Wallet

Digital eNaira Wallet are financial accounts that allow users to store eNaira, make transactions, and track payment histories using their computer or smartphone.

Popular examples of digital wallets include Coinbase Wallet, Google Pay, PayPal App, Skrill App, etc.


  1. Download the eNaira app;
  2. Enter the invitation code received from the bank;
  3. Enter minimum identification details (i.e., NIN, BVN, or know your customer (KYC)/anti-money laundering (AML) information, depending on the customer tier you are);
  4. Enter other identification details such as name, place, date of birth, phone number, passport photograph, email and password);
  5. Minimum ID is validated;
  6. You receive a notification from your financial institution;
  7. Log in to account

Merchants/businesses, these steps are required:

  1. Merchant downloads eNaira mobile app;
  2. Enter invitation code from the bank and validates it;
  3. Enter minimum identification details (i.e., Full KYC as stipulated in the CBN’s AML/combating of financing (CFT) regulations.
  4. Enter your tax identification number (TIN);
  5. TIN is verified, enter other identification details (i.e., email, password, business category, legal business name);
  6. Financial Institutions verifies application;
  7. eNaira wallet created and activated;
  8. Merchant and financial institutions receive a notification.

What Amount can you Use on eNaira Wallet Account?

There are different tiers for individuals, which include:

Tier one: Customers without an existing bank account

1. Minimum account opening requirement: national identity number (NIN);

2. Daily transaction limit: N50,000;

3. Maximum cumulative daily balance: N300,000.

Tier two: Customers with minimal spending abilities

1. Minimum account opening requirement: bank verification number (BVN);

2. Daily transaction limit: N200,000;

3. Maximum cumulative balance: N500,000.

Tier three: Customers With regular spending abilities

1. Minimum account opening requirement: BVN;

2. Daily transaction limit: N1,000,000;

3. Maximum cumulative balance: N5,000,000.

Then for merchants and businesses:

1. Minimum account opening requirement: Full KYC as stipulated in the CBN’s AML/CFT regulations;

2. Daily Transaction Limit: N1,000,000;

3. Maximum cumulative balance: unlimited.

How to Fund eNaira Wallet

Individuals can fund their eNaira wallet by transferring physical money from their regular bank (e-banking app); and then the cash holder (bank) hands over cash to an eNaira verification agent/bank branch/CBN shared agent network expansion facilities (SANEF).

Thereafter, the agent transfers the cash equivalent to the customer’s eNaira wallet.

For foreign exchange (FX) deposit to eNaira wallet, the diaspora regular account holder, such as HSBC, logs in to your customer FX bank account; transfers funds into international money transfer operators’ (IMTO) FX bank account such as Western Union; and then transfer from IMTO eNaira wallet to consumer eNaira wallet.

Finally, CBN has assured Nigerians that the eNaira will not replace cash, however, it will be circulated alongside cash, adding that it will complement cash as a less costly, more efficient, generally accepted, safe, and trusted means of payment.

TAGS: eNaira, CBN, eNaira Wallet App, Digital Currency, eNaira Official Website, eNaira CBN, e-Naira Wallet, e-Naira App

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