98% eNaira Wallets Inactive, Adoption Slow 

The International Monetary Fund has disclosed that 98.5 per cent of eNaira wallets have been unused one year after the launch of the central bank digital currency. <br />The IMF stated that there had been no significant risk despite initiating glitches after the launch of the CBDC about a year ago. <br />The IMF noted that the total downloads were about 0.8 per cent of Nigeria’s active bank accounts. <br />It added that as of end-November 2021, the total number of retail eNaira wallets amounted to about 860,000. This is just 0.8 per cent of Nigeria’s active bank accounts. Merchant wallet downloads reached nearly 100,000 in end-June, about one-eleventh of the number of merchants with Point-of-Sales terminals—enabling credit or debit card payments.