CBN, AFF Partner To Boost eNaira Adoption

The Africa Fintech Foundry, AFF has announced a partnership with the Central Bank of Nigeria (CBN) to support 10 startups in the country, in a bid to increase the adoption of eNaira in the country.

According to the News Agency Of Nigeria(NAN), the head of AFF, Daniel Awe, made this known in Lagos while speaking on the sideline of the Semi-Final Pitching of the eNaira Hackathon 2022.

Awe said that the collaboration was made, following the observed need to strengthen the adoption of the eNaira.

He said that the Hackathon would enhance financial inclusion and also support the digital economy and improve economic activities.

According to him, the startups will be selected from among the 20 finalists who are expected to emerge as semi-finalists in the eNaira Hackathon.

”eNaira was introduced by CBN in 2021 as a digital currency and a lot of people have asked the question, what is the usefulness of this eNaira?”A lot of people have also criticized eNaira, that they prefer cryptocurrency, but the truth is that eNaira is going to be a successful product when there are use cases when people can see problems it is going to be solving,” he said.

”So the hackathon is a platform where innovators, developers, entrepreneurs, coders come together, to solve problems, to create innovative ideas.

”When we layer that on eNaira, it means we brought in different players within the ecosystem – developers, coders, innovators, entrepreneurs, to come up with different ideas, different use cases, that they can leverage on eNaira,” This is so that the consumers of eNaira will now see the benefit of eNaira, they will have the opportunity to see the problem that eNaira will solve,” he said.





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