The eNaira of...

users. A co-created eNaira rather than one where the CBN gave the lead would have been great. Imagine if the telcos, fintechs and banks came together to ensure it was one that could be used seamlessly across their platform. The acceptability and adoption could, therefore, have been faster, and the confidence levels could have been higher.

While it has a similar trait as a stable coin (one that its value is derived from an underlying asset), an international acceptance could lead to enhanced trade and not just remittances and international shopping. Such would mean that the eNaira can be adopted by businesses (possibly linked to the TIN or RC numbers). This would create opportunities for businesses to be able to make easier payments on the one hand, and to be able to receive payments on the other, especially as the eNaira cannot be converted to local Naira or international cash.

In conclusion, I believe the eNaira can be made widely acceptable and could be widely adopted if the CBN allows its use to be applicable to a broader spectrum of activities; and that is what I would like my eNaira to be able to do.