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The New Digital Currency Of Nigeria: How To Use eNaira

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how to use enaira

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The Nigerian government is launching its own digital currency, eNaira, an electronic version of the Nigerian Naira. We tell you what we know about the new currency, who can use it, and which countries in the region accept eNaira payments and transfers.

eNaira is a digital analogue of the national currency, not a type of cryptocurrency. It cannot be mined like bitcoin. The eNaira is obtained or exchanged from banks, credit institutions and licensed financial agents who have an agreement with the Nigeria Central Bank. It is also allowed to transfer savings from a bank account into digital currency.

eNaira was launched in 2021 after the central bank banned banks and financial institutions from transacting in or operating in cryptocurrencies as they posed a threat to the financial system.

eNaira app

Download eNaira app on Google playstore and Apple Store.

How eNaira works

To create eNaira account install the official mobile currency app. The app is free and available for download on Google Play and the Apple Store.

You would be asked to input the following details exactly as captured during your BVN enrollment;

  • Enter your identification details (i.e., NIN, BVN, or KYC/AML Information)
  • 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

Who can use eNaira

  • 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


You can use eNaira even without a Nigerian bank account. You can even transfer money and pay for purchases from abroad. If you are in Nigeria, you can use eNaira for utility bills, taxes, and retirement benefactions.

The eNaira payments are made in real-time; all you need is internet access. There are no fees for eNaira transactions. To pay with digital currency, users scan a QR code, enter a confirmation code from an SMS message or follow a link from a mobile app.


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