18 Days after Launch, CBN’s eNaira Registers 488,000 Subscribers in 160 Countries - Newstrends
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18 Days after Launch, CBN’s eNaira Registers 488,000 Subscribers in 160 Countries

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Barely 18 days after its launch, 488,000 consumer wallets have been on-boarded to Nigeria’s Central Bank Digital Currency (CBDC) platform known as the eNaira from over 160 countries through Google Playstore and Apple Store as of Friday.
Data obtained from the Central Bank of Nigeria (CBN) at the weekend, also showed that about 78,000 merchant wallets have also been on-boarded to the digital currency infrastructure.

Also, transactions on the eNaira stood at about 17,000 valued at over N62 million.
This is an indication of growing enthusiasm for the central bank’s digital currency, which has been described as a game-changer.

The digital platform had recorded about 200,000 wallets downloads in less than one day that the portal came alive.
“So far, we have on-boarded over 488,000 consumer wallets and about 78,000 merchant wallets, with these downloads occurring in over 160 countries (per Google Playstore and Apple Store data).

“We have also recorded almost 17,000 transactions amounting to over N62million with the average transaction being about $9.3 each. These numbers suggest the adoption rate has been excellent.

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“It is a direct liability of the bank, a legal tender and will form part of the currency-in-circulation and will be at par with the physical naira,” CBN said.

The eNaira was officially unveiled on October 25, 2021, by President Muhammadu Buhari who said the electronic money would boost the country’s Gross Domestic Product (GDP) by $29 billion in the next 10 years.
Nigeria is the first country in Africa and one of the first in the world to introduce digital currency.
Buhari had said: “Indeed, some estimates indicate that the adoption of CBDC and its underlying technology, called blockchain, can increase Nigeria’s GDP by $29 billion over the next 10 years.

“CBDCs can also help increase remittances, foster cross border trade, improve financial inclusion, make monetary policy more effective, and enable the government to send direct payments to citizens eligible for specific welfare programmes.”
The president further assured Nigerians of the safety and scalability of the CBDC, adding that the journey to create a digital currency for Nigeria began in 2017.

On his part, CBN Governor, Mr. Godwin Emefiele, had said with growing interest in CBDC around the world, the CBN had commenced extensive study, consultations, identification of use cases, and the testing of the CBDC concept in a Sandbox environment as far back as 2017.

He said the objective of the research was to establish a compelling case for the adoption of a digital currency in the country to enable a more prosperous and inclusive economy for all Nigerians.

He added that following the completion of the preliminary work, the researchers and experts at the CBN were able to establish that a digital currency will drive a more cashless, inclusive, and digital economy as well as complement the gains of previous policy measures and our fast-growing payments platforms.
He said CBN decided to implement its own CBDC and to name the digital currency, the eNaira, and believes the innovation will make a significant positive difference to Nigeria and Nigerians.

Specifically, Emefiele said the eNaira will support a resilient payment system ecosystem, encouraging rapid financial inclusion, reducing the cost of processing cash, enabling direct and transparent welfare intervention to citizens, and increasing revenue and tax collection.
He had also said eNaira would also facilitate diaspora remittances, reduce the cost of financial transactions, and improve the efficiency of payments.

He added: “Therefore, the eNaira is Nigeria’s CBDC and it is the digital equivalent of the physical Naira. As the tagline simply encapsulates, the eNaira is the same Naira with far more possibilities. The eNaira – like the physical Naira – is a legal tender in Nigeria and a liability of the CBN. The eNaira and Naira will have the same value and will always be exchanged at 1 naira to 1 eNaira.”

Emefiele said in a bid to further de-risk the process, the CBN had given careful consideration to the entire payments and financial architecture and has designed the eNaira to complement and strengthen these ecosystems, adding that the bank had also implemented security safeguards and policies to maintain the integrity of the financial system.

The CBN boss added that there would be strict adherence to the anti-money laundering and combating the financing of terrorism (AML/CFT) standards to preserve the integrity and stability of Nigeria’s payment system.
According to him, 33 banks had been fully integrated and are live on the platform while N500 million had been successfully minted by the central bank including N200 million which had been issued to financial institutions.
Emefiele said the country had made history with the eNaira launch, pointing out that this would be the first in Africa and one of the earliest around the world.

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High Power Bills Force BUK to Halt Electric Vehicle Charging on Campus

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High Power Bills Force BUK to Halt Electric Vehicle Charging on Campus

High Power Bills Force BUK to Halt Electric Vehicle Charging on Campus

Rising electricity costs have forced Bayero University, Kano, to ban the charging of privately owned electric motorcycles and other electric vehicles across its campuses.

The university said the growing practice of using its electricity supply to charge private electric vehicles had contributed significantly to a sharp increase in its power bills, creating an additional financial burden for the institution.

The directive, which takes immediate effect, was contained in a statement issued on Tuesday by the university’s Director of Public Affairs, Lamara Garba.

According to the statement, the management has observed the “indiscriminate charging” of privately owned electric motorcycles and other electric vehicles using the university’s electricity supply.

It said the development was no longer sustainable at a time when the institution was seeking to manage its resources prudently.

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“The Management of Bayero University, Kano has observed with concern the indiscriminate charging of privately owned electric motorcycles and other electric vehicles using the University’s electricity supply across its campuses.

“This practice has contributed significantly to the sharp increase in the University’s electricity bills, thereby placing an enormous financial burden on the institution,” the statement said.

The university consequently directed all staff, students, commercial motorcycle operators and other users of electric motorcycles to stop charging their vehicles with the institution’s electricity.

It warned that anyone who violated the directive would face disciplinary action in accordance with the university’s rules and regulations.

“Management expects full compliance with this directive. Any person found violating this ban will be liable to appropriate disciplinary action,” the statement added.

To enforce the ban, the university directed provosts, deans, directors, heads of departments and heads of units to monitor compliance in their respective areas and report any violations to the appropriate authorities.

It also announced that a monitoring team would conduct regular patrols across the campuses to ensure strict adherence to the directive.

The institution urged all affected persons to cooperate with the measure, saying it was part of broader efforts to reduce energy costs and promote the prudent use of university resources.

 

High Power Bills Force BUK to Halt Electric Vehicle Charging on Campus

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Zenith Bank confirms cyberattack, says customers’ contact information was accessed

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Zenith Bank confirms cyberattack, says customers’ contact information was accessed

Zenith Bank confirms cyberattack, says customers’ contact information was accessed

Zenith Bank has confirmed that hackers gained unauthorised access to limited customer information, including email addresses and phone numbers, following a cyberattack linked to a broader global attack affecting organisations across different sectors.

The bank disclosed the incident in an email sent to customers on Tuesday, assuring them that its banking services and digital channels remain secure and fully operational.

According to the lender, the breach involved only limited customer information, while its core banking infrastructure and digital platforms were not affected.

Zenith Bank said it activated its incident response procedures and other cybersecurity measures immediately after the unauthorised access was discovered.

The bank added that investigations were ongoing to establish the circumstances surrounding the incident, determine its full impact and strengthen measures designed to prevent further security breaches.

“Hackers accessed limited customer information, including email addresses and phone numbers, during a cyberattack that forms part of a broader global attack on organisations across different sectors,” the bank said.

Although Zenith Bank did not disclose the number of customers affected or identify the individuals or group responsible for the attack, it maintained that its banking services remained secure.

The bank also did not indicate whether sensitive financial information, such as account balances, transaction records, passwords, PINs or banking credentials, was accessed.

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The development has raised concerns about possible phishing attacks, fraudulent text messages and deceptive phone calls, as cybercriminals may attempt to use customers’ contact information to impersonate the bank or obtain confidential banking details.

Zenith Bank urged customers to remain alert and exercise caution when receiving unexpected emails, text messages or phone calls claiming to originate from the bank.

The lender warned customers not to disclose their passwords, Personal Identification Numbers, One-Time Passwords or other security credentials to anyone.

Customers were also advised to avoid clicking suspicious links, downloading unfamiliar attachments or responding to unsolicited requests for banking information.

The bank said customers should independently verify suspicious communications through its official channels before taking any action.

Zenith Bank has previously warned customers about fraudulent messages and impersonation attempts, stressing that customers should rely only on verified communication channels when seeking banking support. (Zenith Bank Gambia)

The latest Zenith Bank cyberattack has renewed concerns about the growing threat of cybercrime in Nigeria’s financial sector, particularly as more customers depend on mobile banking applications, internet banking and other digital financial services.

In August 2024, Guaranty Trust Bank, now operating under GTCO, reported attempts to compromise its website domain. The bank said at the time that customers’ data had not been affected and that its banking operations remained secure.

The Central Bank of Nigeria (CBN) has also warned Nigerians about fraudulent emails, online messages and other communications falsely presented as official notices from financial institutions and regulatory agencies.

Such messages may contain suspicious links or requests for personal information intended to deceive recipients and gain unauthorised access to their accounts.

Zenith Bank said it remained committed to protecting customers’ information and thanked customers for their continued trust while investigations into the security incident continue.

As of the time of filing this report, the bank had not disclosed the number of customers affected, the source of the cyberattack or whether any financial information was compromised.

Zenith Bank confirms cyberattack, says customers’ contact information was accessed

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FRSC Boss: Tinubu’s CNG, EV Drive Creating Jobs, Attracting Investment

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FRSC Boss: Tinubu’s CNG, EV Drive Creating Jobs, Attracting Investment

President Bola Tinubu’s ambitious transition to Compressed Natural Gas (CNG) and Electric Vehicles (EVs) is already attracting fresh investments, creating new employment opportunities and laying the foundation for a cleaner, safer and more sustainable transport system, the Corps Marshal of the Federal Road Safety Corps (FRSC), Shehu Mohammed, has said.

Speaking at the 2026 Nigeria Auto Industry Summit (NAISU) organised by the Nigeria Auto Journalists Association (NAJA), Mohammed described the Presidential CNG and EV Initiative as a game-changing policy capable of reshaping Nigeria’s automotive and transportation landscape while stimulating industrial growth and youth employment.

The FRSC boss said the initiative aligns with the United Nations Sustainable Development Goals (SDGs), particularly those promoting climate action and sustainable transportation, while commending President Bola Tinubu for the bold reforms and for assigning the corps a strategic role in the programme’s implementation.

“This initiative has brought in so many investments. We have assembly plants producing electric vehicles and CNG vehicles, companies manufacturing CNG cylinders and conversion kits, and new technology that is creating opportunities for our youths,” he said.

According to him, the initiative is expected to generate thousands of jobs while positioning Nigeria as a leading destination for green mobility investments in Africa.

“Really, it is a massive investment coming into Nigeria, and it is producing massive jobs for the unemployment challenge we have,” he added.

Mohammed also linked the administration’s transport agenda to ongoing infrastructure projects, including the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Super Highway, noting that the projects would improve connectivity and support a safer, more efficient transport network.

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He expressed confidence that the reforms would help Nigeria achieve the United Nations target of providing “a safe, accessible, affordable, reliable and sustainable transport system for all Nigerians by 2030.”

On road safety, the Corps Marshal stressed that reducing road crashes and fatalities requires collective action rather than relying solely on the FRSC.

“Road safety should not be left to the FRSC alone. It is a collective responsibility involving government, communities and every Nigerian,” he said.

While noting that the corps has sustained public enlightenment campaigns for over three decades, Mohammed said greater participation from state governments, local councils, traditional institutions and community leaders is essential to changing road users’ behaviour.

He disclosed that the FRSC has expanded its awareness campaign beyond motor parks to grassroots town hall meetings, enabling the agency to engage drivers, passengers and community stakeholders more directly.

“When you see a bad driving culture, stop the person and caution him. Let him be embarrassed. Road safety is everyone’s responsibility,” he said.

The Corps Marshal expressed concern over persistent traffic violations such as speeding, overloading and the dangerous practice of conveying passengers alongside goods and livestock, warning that such behaviours remain major causes of fatal crashes.

He also urged passengers to challenge reckless drivers, particularly those who exceed speed limits, saying public intervention could save lives.

Mohammed commended NAJA and the media for their sustained support for the FRSC’s road safety campaigns and called for deeper collaboration with journalists to achieve the global target of cutting road traffic crashes, injuries and fatalities by 50 per cent before 2030.

Speaking on the legacy he hopes to leave, the FRSC boss said his priority is to build a technology-driven, people-focused organisation anchored on professionalism, collaboration and excellent service delivery.

“The legacy I want to leave is partnership, collaboration and bringing out the best in FRSC personnel to serve Nigerians and further enhance the image of the corps,” he said.

 

FRSC Boss: Tinubu’s CNG, EV Drive Creating Jobs, Attracting Investment

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