Federal Character
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
Federal Character
No Result
View All Result
Home News

Nigerians grow disinterested in e-Naira

Somto NwanoluebySomto Nwanolue
June 27, 2022
in News
0
Nigerians grow disinterested in e-Naira
Share on FacebookShare on TwitterShare on Whatsapp

The rave around Nigeria’s e-Naira seems to be on the waning side as research has disclosed that a lot of Nigerians, especially the youths, favor cryptocurrencies more. The e-Naira, was introduced by President Muhammadu Buhari, on 25 October 2021, and it has seen more than 100 thousand downloads on the Google Play Store alone after the Central Bank of Nigeria -CBN badmouthed and criticized cryptocurrencies, and tagged them as unregulated. 

While introducing the nation’s first digital currency, President Buhari disclosed that the currency and its underlying blockchain infrastructure could multiply the nation’s GDP, by about 29 billion dollars in 10 years. The President also announced that the launch of the e-Naira will aid his administration to send direct payments to Nigerians that were eligible for specific welfare programs together with fostering cross-border trade. 

CBN Governor, Godwin Emefiele, had also disclosed that during the period the e-Naira platform went live, there had been a lot of interest and overwhelming feedback from citizens in the country and other parties across the globe with more than 2.5 million visits to the website daily.

But, several months after its debut, interest in the digital currency in the country has noticeably trended downwards in rapid succession as Bitcoin and other cryptocurrencies started their rise during the same period. For example, according to information gotten from Google, interest in the e-Naira was at 43 index points while interest in cryptocurrencies was at 41 index points as about 2021. But, as of March 26, 2022, interest was fewer than 1 index point while more than  33 million Nigerians traded on crypto as of April 2022.

Tags: cbndigital currencye-nairaEmiefelefederal character
Somto Nwanolue

Somto Nwanolue

Somto Nwanolue is a news writer with a keen eye for spotting trending news and crafting engaging stories. Her interests includes beauty, lifestyle and fashion. Her life’s passion is to bring information to the right audience in written medium

Related Posts

US Troops on Standby In Anticioation of Massive, Coordinated Anti-Trump Protests
News

US Troops on Standby In Anticipation of Massive, Coordinated Anti-Trump Protests

October 18, 2025
Blood Spills in Peru as Gen Z Fights a Broken System
News

Blood Spills in Peru as Gen Z Fights a Broken System

October 16, 2025
What is the Daily Cost of a US Government Shutdown to the Economy?
News

What is the Daily Cost of a US Government Shutdown to the Economy?

October 15, 2025
Next Post
Nigerians grow disinterested in e-Naira

Tems Wins the 2022 BET International Act Award

WWII Navy Destroyer: Deepest Wreck Discovered by Explorers

WWII Navy Destroyer: Deepest Wreck Discovered by Explorers

WWII Navy Destroyer: Deepest Wreck Discovered by Explorers

Ecuador Lowers Gas Prices as Latest Effort to Appease Protesters

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Naira Holds Steady at N1,550/$ in Nigeria’s Foreign Exchange Market

Dollar, Euro and Pounds To Naira Exchange Rate For Today, December 23 2024

10 months ago
Trump’s Refugee Order for White South Africans Sparks Outrage

Trump Sacks USAID Watchdog After Critical Report

8 months ago
President Tinubu Inaugurates 250-Unit Housing Project in Akwa Ibom, Promising Thousands of Jobs

President Tinubu Inaugurates 250-Unit Housing Project in Akwa Ibom, Promising Thousands of Jobs

1 year ago
Bakers to Commence Strike on Tuesday, February 27

Bakers to Commence Strike on Tuesday, February 27

2 years ago

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

Topics

2023 Aboki/Bureau De Change (BDC) apc Arsenal buhari Business cbn chelsea china court Davido Dollar Efcc Election Entertainment Euro and Pounds To Naira Exchange Rate For Today exchange rates for the Nigerian Naira (NGN) Fashion federal character federal government Finance food Football Foreign News government health inec Israel lagos Manchester United Naira Naira Black Market exchange rates News Nigeria pdp police Politics president protest Russia Sports tinubu trump ukraine US
No Result
View All Result

Highlights

Movie Review: MeadBowbrook Heart – A Touching Story That Suffers from Slow Pacing

Blaqbonez Spills His Controversial Marriage Secrets

“Why I Later Supported Regina Daniels’ Marriage” To Ned Nwoko — Rita Daniels

Iyabo Ojo Celebrates as Priscilla and Juma Jux Arrive Nigeria with Grandchild

“How I Surpass Michael Jackson in Classics” – Sir Shina Peters

Ryan Taylor Reveals Why His Engagement to DJ Cuppy Ended After Less Than a Month

Trending

White House Denies Rumors Trump May Pardon Diddy
Entertainment

White House Denies Rumors Trump May Pardon Diddy

byAyobami Owolabi
October 22, 2025
0

The White House has rejected claims that President Donald Trump is contemplating commuting the prison sentence of...

What Happens When Polygamy Meets Fairness? Ali Baba Explains

What Happens When Polygamy Meets Fairness? Ali Baba Explains

October 22, 2025
Sean Dyche Appointed as Nottingham Forest New Head Coach

Sean Dyche Appointed as Nottingham Forest New Head Coach

October 21, 2025
Movie Review: MeadBowbrook Heart – A Touching Story That Suffers from Slow Pacing

Movie Review: MeadBowbrook Heart – A Touching Story That Suffers from Slow Pacing

October 21, 2025
Blaqbonez Spills His Controversial Marriage Secrets

Blaqbonez Spills His Controversial Marriage Secrets

October 21, 2025

We launched Federal Character in February 2021 based on the belief that the world is in need of smarter and more efficient reporting of events shaping our rapidly changing world. We pledged to put our audience first, always.

Recent News

  • White House Denies Rumors Trump May Pardon Diddy
  • What Happens When Polygamy Meets Fairness? Ali Baba Explains
  • Sean Dyche Appointed as Nottingham Forest New Head Coach

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

© 2024 FederalCharacter.com

No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion

© 2024 Federalcharacter.com