November 27, 2021 All Things Fintech in Africa

ENaira Wallet; All You Need To Know About the ENaira App in Nigeria

ENaira Wallet; All You Need To Know About the ENaira App in Nigeria

What is ENaira Wallet

The ENaira Wallet is a digital Wallet that allows you to own the Nigerian Naira. It was launched on Monday by President Muhammadu Buhari of the Federal Republic of Nigeria. ENaira is issued by the Central Bank of Nigeria as a digital currency that can be used the same way you use the physical Naira presently. Which is for shopping, purchase of goods and services, transfer to someone else among many other use cases.

Which banks can use ENaira Wallet

At the moment, the ENaira is issued by the Central Bank of Nigeria as its own digital currency and you need to be an existing banker with the following banks to use the ENaira Wallet.

Access Bank

CitiBank

Coronation Bank

EcoBank

FBNQuest

Fidelity Bank

First Bank

First City Monument Bank (FCMB)

FSDH Group

Globus Bank

Greenwich Bank

Heritage Bank

Jaiz Bank

Keystone Bank

Lotus Bank

Nova Merchant Bank

Parallex Bank

Rand Merchant Bank

Stanbic IBTC

Standard Chartered Bank

Sterling Bank

Sun trust Bank

Taj Bank

Titan trust Bank

UBA

Union Bank of Nigeria

Unity Bank

Wema Bank

Zenith Bank

Cannot find your bank? Keep checking this list as we would keep updating the list of banks that makes ENaira Wallet accessible to Nigerians.

How to Get an ENaira Wallet

Getting an ENaira Wallet is as easy as it sounds. All you need to do is have an account with any of the banks we have listed above and sign up on the E-Naira Wallet with your Name, Date of Birth, State of Origin, BVN, NIN and you get an ENaira Wallet.

Apart from having the ENaira Wallet on your mobile phone, you can also dial a USSD code to get access to your wallet.

How to download the ENaira App/ENaira APK Download

You can download the ENaira App on Android or iOS store based on the device that you have.

To download it on your Google Play store – click here

To download it on your iOS App store – click here

Which Countries are allowed to use the ENaira App

Presently, only Nigerians are allowed to use the ENaira app, we would update the list of countries allowed to use the ENaira app as that Central Bank of Nigeria updates the list.

ENaira Wallet; All You Need To Know About the ENaira App in Nigeria
The sign on page of the ENaira Wallet on Apple iOS

How Can I Use The ENaira

Similar to how you can use the current money in your banking app, the ENaira as the same possible use cases at the moment such as

  • walking into a store, purchasing goods and paying for it afterwards
  • sending money to your friends and loved ones
  • Paying for something you want to purchase online

Other questions you may have are answered here

The ENaira is not different from your normal Naira either accessible in cash or digital form as e-money. The difference in this case is that the Central Bank of Nigeria is the issuer of the currency directly unlike the licensed deposit money banks which many of us access money through. In terms of safety, it is a safe process as at the time of writing this and you do not have anything to worry about. You cannot also pay into your ENaira Wallet at any bank directly, you have to pay into your ENaira Wallet from your own registered bank. So this means if you registered with Bank X on your Wallet, you can only credit your wallet with Bank X and not another bank like Bank Y. It is also useful to know that you can send money  to someone abroad provided they have an ENaira Wallet themselves even though you cannot convert it. To fund your wallet, you can transfer to your wallet from your bank account, you can transfer to it from another wallet and you can pay cash into your bank account to fund your wallet.

As at today, transaction charges are not stated on the app but the Central Bank of Nigeria (CBN) promises it to be cheaper than deposit money banks.

You can also read

How to Manage your Finances during a Crisis (COVID19)

Manual on How to invest in mutual funds in Africa 

How To Get Quick Loans in Nigeria, Ghana, South Africa and Kenya

 

 

Banner
Related Posts

JumiaPay: a fintech platform for payments, loans & ticketing

September 5, 2019

September 5, 2019

  Jumia, an e-commerce platform for Africa backed by MTN and Rocket Internet has introduced new features on JumiaPay. The...

  How to go Cashless with Paga

March 29, 2020

March 29, 2020

 For frequent cash users who are more comfortable with the traditional payment systems, going cashless have built up a sort...

Zazu Raises $1.4m in an attempt to expand their user base

December 11, 2019

December 11, 2019 1

  Zazu fully started as a digital banking space in 2107.  Previously, Zazu was a platform where farms could connect...

MTN in a Partnership with Ericsson has launched an Open API platform in Ghana

October 24, 2019

October 24, 2019

  Introduction MTN mobile money fondly known as MOMO has expanded to Ghana. The open API platform launched is to...

PalmPay raises $40m from TECNO mobile, will be preinstalled on 20m phones in 2020

November 14, 2019

November 14, 2019

PalmPay raises $40m from TECNO mobile, will be preinstalled on 20m phones in 2020 Nigeria is one of the countries...

Paypal Launches Xoom in the African market

August 25, 2019

August 25, 2019

  PayPal in 2015 brought xoom, a money transfer company which now serves 33 African countries from about 30 European...

MTN Mobile Money Wallet Users Can Transfer through Western Union Directly

November 1, 2019

November 1, 2019

Cross-border transfer has been made easy with the new launch of western union on MTN mobile money wallet.  In this...

PayPal Becomes the First Foreign Company to Secure Chinese Payments License

November 27, 2019

November 27, 2019

  Paypal earns a Chinese Payment License after it gains a 70% stake in Guofbao Information Technology Co (Go Pay)....

M-Naria’s Three Cool Features you had no Idea about

April 30, 2019

April 30, 2019

  M-naira is the new way of making transfers across countries. Before now, if one wanted to send money from...

PesaLink, Kenya’s Payment System

October 28, 2019

October 28, 2019 1

  What is PesaLink? Pesalink is a payment system launched by the Kenya Bankers Association (KBA). This is a digital...

 FlutterWave:  Creating Financial Accessibility With Digital Payment Solutions

September 27, 2019

September 27, 2019

Table Of ContentsENaira Wallet; All You Need To Know About the ENaira App in NigeriaWhat is ENaira WalletWhich banks can...

PayStack Introduces USD Payouts into Zenith Banks  

December 11, 2019

December 11, 2019 1

Table Of ContentsENaira Wallet; All You Need To Know About the ENaira App in NigeriaWhat is ENaira WalletWhich banks can...

Online Payments Spike up in South Africa After COVID Lockdown

April 1, 2020

April 1, 2020

On Thursday March 25th, President Cyril Ramaphosa announced a 3-week lockdown , to curb the spread.  However, online payments have...

With Wallet you can Upgrade your Daily Personal and Financial Experience

April 25, 2019

April 25, 2019

  Wallet is an app that enables you to make quick financial decisions daily. With ease and convenience, banking has...

TeamApt Secures Highest Level of License Awarded to any Fintech by Nigeria’s CBN

April 19, 2019

April 19, 2019

Table Of ContentsENaira Wallet; All You Need To Know About the ENaira App in NigeriaWhat is ENaira WalletWhich banks can...

Comments
Leave a Reply

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

This site uses Akismet to reduce spam. Learn how your comment data is processed.