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eNaira Officially Launched In Nigeria Amidst Mixed Reactions

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eNaira

Nigerian digital currency, eNaira has officially been launched amidst mixed feelings, Crystal News reports

eNaira was officially launched at the at the States House in Abuja today, (Monday) after an earlier planned launch on October 1.

eNaira was developed by fintech company Bitt, which is also behind the creation of Central Bank Digital Currency (CBDC) in some East Caribbean countries.

Present at the unveiling were the Vice-President, Prof. Yemi Osinbajo, and the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.

eNaira: Buhari Officially Launch Nigerian Digital Currency

Nigerian authorities say the currency is not intended to replace cash but will function as a safe and efficient alternative means of payment.

At the eNaira launch the CBN governor, Godwin Emefiele, said 500 million eNaira ($1.21 million) has already been minted.

Emefiele added that there had been “overwhelming interest and encouraging response”, adding that 33 banks, 2,000 customers and 120 merchants had already registered successfully with the platform, which is available via an app on Apple and Android.

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 playstore and Apple store.

A notice on the enaira website gives details into how the currency and the wallet will work.

“Get Ready With Your Accurate BVN Data For Your Hitch-Free Enrolment,” it says.

eNaira

eNaira site

“To sign-up on the eNaira speed wallet, you would be required to input the following details exactly as captured during your BVN enrollment.

“First Name, Last Name, Date of Birth, State of Origin, and Email.

eNaira launched with mixed reactions

Some Nigerians have reacted to the launch of eNaira, while some  believe its form of exploit other question CBN and the Buhari-led federal government.

OluwaFemi J. Olagunju said, “Under this present Central Bank governor, our economy has nosedive than ever before, and the naira is at its weakest. “Instead, the Central Bank of Nigeria has continually look for ways to exploit Nigerians through silly numerous bank charges. Instead of launching the e naira, the failed Central Bank governor should be interested in at least returning the value of naira to what he met when he got into office. “The Central Bank governor witch haunted those who took part in EndSARS protest by placing embargo on their account. Why has he not done same to bandits or killer herdsmen?” 

Abdullah Idris Garba Talasse “We are becoming digital Nigeria. Thank you CBN, thank you PMB for making such a reality.” Abdallah Mohammed “At least, if it will reduce banks exploitation, it’s a welcome idea but I don’t see any different with our money in bank account.”

Ademitunji Afolabimi, “What about the general public? What is the level of their preparedness about this digital currency? Or it only for the financial gurus and experts? What sensitization have you done about the currency and how the general public can key into it use? Will it be acceptable by the Nigerian public?”.

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Business

FG approves Modular Refinery in Abia to boost industrial growth

The Federal Government has approved the construction of a modular refinery in Abia State, set to drive economic growth and industrial development.

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 The Federal Government has approved the construction of a modular refinery in Abia State, set to drive economic growth and industrial development

 

The Federal Government has granted approval for the construction of a modular refinery in Abia State, a move expected to boost industrialisation and economic development in the region.

Abia State Governor, Dr. Alex Otti, announced the approval during the flag-off of the reconstruction of the 11.1-kilometre Obehie-Umudibia-Owaza Road.

He revealed that the refinery would be built by H.I.S. Refinery and Petrochemical Company Limited and will be located at the Abia Industrial and Innovative Park (AIIP) in Owaza, Ukwa West Local Government Area.

Governor Otti highlighted the project’s significance beyond infrastructure development, stating that it would revitalise dormant economic assets and create new opportunities for residents and businesses.

“This project is not just about creating access to the towns and villages along this corridor.

It is about reviving dormant economic assets, opening new horizons, and reigniting the dreams that once inspired our forefathers,” he said.

The governor also assured stakeholders that the state government would provide full support to ensure the successful completion of the refinery, positioning Abia as a key player in Nigeria’s industrial growth.

The approval of the modular refinery aligns with ongoing efforts to enhance local refining capacity, reduce dependency on imported petroleum products, and create jobs in the oil and gas sector.

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Politics

Court orders Otudeko’s arraignment amid N12.3bn fraud allegations

A court has ordered Oba Otudeko to appear for arraignment over an alleged N12.3bn fraud, while settlement talks are ongoing among parties.

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 A court has ordered Oba Otudeko to appear for arraignment over an alleged N12.3bn fraud, while settlement talks are ongoing among parties

 

A Federal High Court in Lagos has ordered Oba Otudeko to appear for arraignment over an alleged ₦12.3 billion fraud.

However, the case has been adjourned to May 8, 2025, as parties explore a peaceful resolution.

During the hearing, Chief Wole Olanipekun (SAN) expressed gratitude to the court and disclosed that all involved parties, including the prosecution, had met under the guidance of the Attorney General of the Federation on March 12 to discuss settlement options.

He requested an adjournment to allow further negotiations.

Other defence counsels, including Kehinde Ogunwumiju (SAN), Olumide Fusika (SAN), and Charles Adeosun-Phillips (SAN), confirmed the ongoing discussions and supported the request for adjournment.

They urged the court to allow room for a settlement rather than proceeding with the arraignment.

Despite the prosecution’s lawyer, Mrs. Bilikisu Buhari, suggesting an adjournment for either settlement or arraignment, the defence maintained that the court should focus solely on monitoring the settlement process to prevent prejudice.

Ogunwumiju (SAN) further noted that the Attorney General had advised all parties to refrain from filing additional legal motions to facilitate a smooth negotiation.

Following these submissions, Justice Aneke ruled in favour of an adjournment, scheduling the next hearing for May 8, 2025, for a report on the settlement discussions.

This case is linked to an ongoing debt recovery suit filed by Ecobank against Otudeko, which has also faced multiple delays.

The outcome of the settlement talks could determine whether the fraud charges proceed to trial.

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New executive inaugurated for “CSMC AYO NI O” worldwide’s international council of prophets (ICOP)

The Baba Aladuras of the Cherubim and Seraphim Movement Church inaugurates new ICOP executives, focusing on spiritual growth and national unity.

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Cherubim and Seraphim Movement Church

The Baba Aladuras of the Cherubim and Seraphim Movement Church inaugurates new ICOP executives, focusing on spiritual growth and national unity

 

The Baba Aladuras and spiritual heads of the Cherubim and Seraphim Movement Church Worldwide (CSMC) have formally inaugurated a new executive for the Church’s International Council of Prophets (ICOP) in a ceremony that marks a significant milestone for the religious community.

Also read: The Rotary Foundation Celebrates 120 Years with Call for Selfless Giving

In his inauguration address, His Grace, Prophet Emmanuel Abiodun Alogbo, the Baba Aladura, urged the newly appointed executive to seek out fresh opportunities and leverage innovative ideas that will enhance the Church’s spiritual growth.

He emphasised the importance of these efforts not only for the Church but for the wider Christian community.

The Baba Aladura also highlighted the critical role of prayer, directing the ICOP to pray for the peace and stability of the nation.

His specific mention of President Bola Ahmed Tinubu and other government officials underlined the Church’s commitment to supporting leadership through prayer.

Conference Supervising Prophet, Sp/Ap Pro Joel Adeniran, expressed his gratitude to the Church’s leadership for entrusting the new executive with this responsibility.

He assured attendees that the programmes and activities of the new ICOP would align closely with the Church’s broader vision for spiritual development.

As a central part of the Church’s mission, the ICOP will lead the way in initiating and coordinating prayer programmes aimed at fostering deeper spiritual growth within the Church.

One of their key priorities will be to review and update the ethics and practice guidelines for prophets and prophetesses within the movement, ensuring that all members adhere to the highest standards of conduct.

Looking ahead, the Conference Supervising Prophet also mentioned the forthcoming Annual Mount Horeb Ascension, an important spiritual event for the Church.

He encouraged both Church members and the general public to take part in this year’s Mount Horeb programme, marking it as a pivotal moment for spiritual engagement and community building.

The new ICOP leadership is expected to play an essential role in shaping the future of the Cherubim and Seraphim Movement Church, ensuring that the organisation continues to thrive spiritually and contribute positively to the wider community.

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