Nigeria’s central bank digital currency (CBDC), the eNaira, has gone live after an official launching by President Muhammadu Buhari on Monday.
The launch took place at the State House in Abuja. An earlier plan to unveil the digital currency on October 1 was shelved.
Nigeria is one of only a few countries in the world to develop an official digital currency.
The eNaira was developed by fintech company Bitt, which is also behind the creation of CBDC in some East Caribbean countries.
At the launch on Monday, the Central Bank of Nigeria governor, Godwin Emefiele, said $1.21 million has already been minted.
The CBDC’s digital currency app and its merchant wallet are now live and available for download.
The two apps, eNaira speed wallet and eNaira merchant wallet, are now available on Google Play Store and Apple Store.
A notice on the eNaira website gives details as to how the currency and the wallet will work.