Customers are currently adopting the eNaira in greater numbers at Ecobank and GTB.
The Central Bank of Nigeria (CBN) launched eNaira, Africa’s first Central Bank Digital Currency (CBDC), in October.
According to research Ecobank has around 20% of the active merchant wallets, while GTB has the bulk of the consumer wallets activated by customers among the top 10 financial institutions in the country.
Ecobank leads in merchant adoption, followed by Access Bank, Zenith Bank, Union Bank, First Bank, UBA, and Polaris Bank, according to the survey. Keystone Bank, GTB, and Wema Bank are among the other top ten banks.
On the other hand, GTB is leading with majority of the consumer wallets activated by users from the top 10 financial institutions in the country. As far as consumer wallets go, GTB has more than 30 percent of the total activated consumer wallets held by all banks in Nigeria. Access Bank, Zenith Bank, First Bank, UBA, Polaris Bank, and Ecobank are the top seven banks with the highest number of activated consumer wallets.
In October, CBN unveiled the very first Central Bank Digital Currency in Africa with a lot of national and international interest on how well the electronic currency will perform and what problems it would solve in the banking and finance space on the continent.
As at November 29, 2021, about a month after eNaira went live, 589,000 downloads had been recorded for the digital currency across the iOS and Android app stores. That translates to an average of 20,000 downloads per day since launch
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.
