eNaira – What is eNaira and How Does it Work

eNaira is a Nigerian digital money or medium of exchange. Furthermore, it is controlled and issued by the Central Bank of Nigeria. What’s more, eNaira is a form of currency that provided payment expectations in retail transactions when compared to money notes.

So, if you are a business owner and you are looking for a safe, cheap, and easy way to carry out transactions or means of payment, eNaira is what you need.

The eNaira is a store of value that provides users with better payment methods when it comes to making retail transactions compared to cash payments.

eNaira - What is eNaira and How Does it Work

When you use it, you get to enjoy various benefits that come with making use of the eNaira currency. In addition, you can use its app as well. In other words, to access eNaira, you will need to sign up and create an account. But if you already have an account, then you just need to log in.

And these processes are possible through their official website or mobile app. Therefore, you can visit their official website or mobile app on your smartphone to use the eNaira currency.

How Does eNaira Work?

This is one question that millions of Nigerians are curious about. Now, if you are one of them, read carefully through this section to find out what you are looking for. Firstly, the use of this digital currency was first introduced on October 25, 2021, and it was unveiled at the State House.

So, this eNaira is a digital form of Nair and it is used just like money. The purpose of this digital currency is to make transactions faster and more convenient.

What’s more, it is very secure and safe to use. In other words, it is used as a store of value and medium of exchange, therefore, making payment faster and easier.

Now, as a business owner, you can use eNaira because it is a digital form of the Nigerian currency and you can also use it just like cash. What’s more, all your digital currencies are stored in your eNaira wallet and only you have access to it.

Why Should I Use It?

If you are wondering why, you should start using it, I hope this section gives you a valid reason. Firstly, it comes with legal backing. What’s more, it is a low-cost payment system and has systematic regulation. In addition, users can access it if cash is unavailable.

Furthermore, it is not unstable to speculations and it is a huge competition to cryptocurrency as well as Big Tech Monopoly. It is also good for remittances and cross-border payments. So, if these reasons are solid, go ahead and sign up.

eNaira Sign Up

Signing up for eNaira is very easy. Moreover, you do not need to follow complex steps or procedures that may make the application process complicated. So, just as long as you follow the steps in this section, you will be able to carry out this process with ease:

  • Connect to the internet.
  • Open your web browser.
  • Visit https://enaira.gov.ng/ or open the eNaira app on your mobile device.
  • Alternatively, you can go to https://mywallet.enaira.gov.ng/registration to sign up for an account.
  • On the next page, select what type of account you wish to open.
  • So, you can choose whether you want Individual Wallet, Edu Wallet, or Mini Business Wallet.
  • After you select what type of account you want, start by providing your personal information.
  • Now, enter your phone number.
  • Click on Verify.
  • Follow the instructions until you complete the Bio-data information stage, Address, and Referral stage.

Once you do, you will be able to complete the sign-up process for an eNaira account. After the process is complete, you can start using digital currencies with ease.

eNaira Login

For users who already have an account, this section is for you. Therefore, if you have already signed up for an account before, you do not need to again. In other words, all you need to do is to sign in or log in to your existing account, and here is how to do so:

The Remember Me box has already been automatically select. But you can deselect it if you want. Lastly, click on the green Individual Sign In option. Once you do, you will be able to access your eNaira account.

How to Use eNaira Wallet

In this section of the article, we will show you steps and guidelines on how to successfully use the eNaira wallet across your mobile devices. Note to make use of this wallet, you will need a mobile device and a stable internet connection. Check out the steps and guidelines below;

  • Firstly, visit your Google or App Store.
  • Download the eNaira wallet app.
  • Next, open the app and sign up or log in to your account
  • Then, select your bank account from the options provided
  • Next, validate your information by entering the required details needed.
  • Enter your NIN, BVN, Date of birth, and active email address.

Finally, fund your wallet account and then you can start using your eNaira wallet to send funds to your friends and family or receive funds from your customers and more.

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