E-Naira Merchant Update – The eNaira is a digital currency initiated by the Central Bank of Nigeria and approved by the Federal Government to help improve the monetary value, the currency will be using a medium of exchange and will be generally acceptable in the world.
The eNaira Merchant will pave the way to creating a passive income while you focus on your career.
The Central Bank of Nigeria has stated that the e-naira which will be launched on October 1, is a legal tender equal to the naira and must be accepted as a form of payment by all merchants and business establishments.
How to Become an eNaira Merchant in Nigeria
To become an eNaira merchant, you have to go to your bank and request the eNaira merchant application form which will attract zero charges.
The form will be provided and you are expected to provide all the necessary information to qualify you to become a fully approved eNaira Merchant.
Who is an eNaira Merchant?
A Merchant is a person to whom some or all aspects of the postal outlet have been delegated by a higher merchant, e.g. the Commercial Bank.
eNaira Application and Approval Requirement
Any financial institution that wishes to engage in eNaira merchant shall submit an application for approval to the CBN. The application shall clearly state the extent of the merchant activities and responsibilities of the relevant parties.
The application shall be submitted to the Office of the Director, Banking & Payments System
Department, CBN, Abuja. All applicants shall supply information to the CBN as may be required from time to time.
Information required by the CBN to become a licensed eNaira Merchant shall include:
- Name of the applicant
- Postal Address/email
- Business Address
- Telephone number
- Company Registration Number/certificate
- Bank Verification Number
- Know Your Customer (KYC) information
Activities to be carried out by the eNaira Merchant
- eNaira deposit and transfer
- Bills payment (utilities, taxes, tenement rates, subscription, etc.).
- Payment of salaries.
- Balance inquiry.
- Generation and issuance of the mini statement.
- Agent mobile payments/banking services
- Repayment of loans.
- Collection of bank mail/correspondence for customers.
- Any other activity as the CBN may from time to time prescribe.
How to Download eNaira App
For more information visit the official website here. https://enaira.com/