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CBN Provides the USSD Code for e-Naira

CBN Provides the USSD Code for e-Naira

The Unstructured Supplementary Service Data -USSD- code for the e-Naira is *997#, according to the Central Bank of Nigeria -CBN. This USSD code is announced 10 months after the launching of the e-Naira, Nigeria’s official cryptocurrency.

CBN said the *997# e-Naira USSD code would greatly improve diaspora remittances, enable direct welfare disbursement to citizens, and improve the availability of central bank money, all of which will help financial inclusion in the country.

Reports have it that the e-Naira has recorded about 840,000 downloads since it was introduced on October 25, 2021, and has since then, recorded an estimated N4 billion transactions across the 270,000 active wallets including 252,000 consumer wallets and 17,000 merchant wallets.

The USSD transaction code was debuted at a five-day e-Naira fair 2022, in Northern Kano, on Thursday, where the CBN Governor, Mr. Godwin Emefiele was represented by the apex bank’s Deputy Governor of Operations, Folashodun Adenisi-Shonubi.

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The e-naira, a Central Bank Digital Currency -CBDC, will provide additional possibilities for the usage of Nigeria’s currency, and improve the lives of the citizens of the country in the process.

The CBN is targeting 81 million Nigerian adults using mobile phones with the app, and around 150 million mobile subscribers, for the successful adoption of the e-Naira.

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