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How to create and fund your eNaira wallet


As the Central Bank of Nigeria (CBN) prepares to launch the country’s first digital currency, eNaira, any moment from now, here is what you need to know about the currency and how to create and fund your eNaira wallet.

What is eNaira?

eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira. eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments. eNaira has an exclusive operational structure that is both remarkable and nothing like other forms of central bank money.

Creating an eNaira wallet

The eNaira wallet is a digital storage that holds the eNaira. It is held and managed on a distributed ledger. The eNaira wallet is required to access, hold and use eNaira. To create an eNaira wallet, for smart phone users, download the eNaira app from either the Google Play Store or Apple Store and complete the registration process. For feature phone users, utilize USSD codes and follow the registration prompts. See the steps to follow below:


  • Download eNaira app.
  • Enter invitation code received from bank (in the process of registering)
  • Enter minimum identification details (i.e., NIN, BVN, or KYC/AML Information, depending on the customer tier you are).
  • Enter other identification details (i.e., Name, Place and Date of Birth, Phone Number, Passport Photograph, Email and Password).
  • Minimum ID is validated.
  • You receive a notification from your financial institution.
  • Log in to account


To create an eNaira wallet as a merchant/corporate, you will be required to follow the required steps:

  1. Visit app stores such as Google Play Store or Apple Store to download the eNaira wallet;
  2. Register by providing your Taxpayer Identification Number (TIN) and identify a bank of your choice for validation;
  3. Upon successful validation of a merchant’s details by a preferred bank, the merchant’s bank will create a wallet and advise the merchant.


How to fund the wallet

According to the CBN, there are three ways to fund your eNaira wallet. These include:


  1. Direct transfer from your bank account;
  2. Transfer from another wallet either individual or merchant;
  3. Cash payment through an agent or a bank.


The eNaira wallet goes beyond an App, it is a companion for all transactions. At the core of CBN’s strategy sits a dire need to find the confluence between humanity and technology. The wallet was designed to respond to your needs and thrash your worries. Careful thoughts and analytics from real Nigerian situations and global realities were distilled into creating the app.

Your eNaira wallet offers a great way of making purchases with retailers on-site, transferring, or sending money while tracking rewards programs. You can link the e-wallet to your bank account or pay as you go with a prepay option. In addition, the embedded security token system makes your information unreadable to fraudsters because tokens are randomly generated every time you make payment.



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