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CBN Postpones The Launch Of Nigeria’s First Digital Currency, eNaira

E-Naira

As Nigerians await the launch of the country’s first-ever digital currency dubbed the eNaira, which was scheduled to be unveiled tomorrow, 1st of October, 2021, the country’s apex bank, the Central Bank of Nigeria (CBN) has announced today, Thursday, September 30th, 2021, that the planned launch of the eNaira will no longer hold tomorrow, as a new date will be announced in due course.

The launch of the nation eNaira has generated a lot of excitement among the citizens who were all looking forward to October 1 as they were eager to get on board and enjoy the new initiative by the CBN. The postponement will definitely come as a huge disappointment as they have to wait for a later date which is yet to be announced by the apex bank.

In the statement released by the CBN and was signed by the Director of Communications, Osita Nwasinobi, The apex bank explained that although they thought that merging the launch of the new digital currency with the 61st Independence Day celebration of Nigeria would be a perfect climax, they went back on that decision  “in deference to the mood of national rededication to the collective dream of One Nigeria.”

The statement titled, “CBN defers eNaira launch to mark Independence Anniversary”, read in part:

“Ahead of the anticipated launch of Nigeria’s Central Bank Digital Currency, known as eNaira, the Spokesman of the Central bank of Nigeria, Mr. Osita Nwanisobi, says the planned unveiling on October 1, 2021, has now been deferred due to other key activities lined up to commemorate the country’s 61st Independence Anniversary.”

While assuring that there was no cause for alarm, Nwasinobi said the CBN and other partners were working round the clock to ensure a seamless process that will be for the overall benefit of the customer, particularly those in the rural areas and the unbanked population.

However, Nairametics has gathered that the unexpected traffic to the eNaira website forced the management of the CBN to go back to the drawing board as the surge was unexpected. According to the economic website,

“An unanticipated surge in visits on the website of the Central Bank’s eNaira initiative has led to the sudden postponement of the launch of the apex bank’s digital currency dubbed “eNaira.” The surge led to a recalibration of the number of potential users, which the bank now believes could be ten times more than earlier expected soon after the launch. The bank, therefore, decided to postpone the launch in order to recheck and retest the robustness, safety, scalability and security of the eNaira system.

“The eNaira website recorded about 480,000 hits the first day it went live. The visits grew to over 1.7 million the next day and has averaged over 2.8 million hits daily since then. Apart from attracting hits, the website has also recorded a surge in usage with the time spent on the site generating content of over 80 GB daily. Nairametrics understands this required that the apex bank conduct another stress test on its systems to ensure it is capable of withstanding a further surge in traffic when they go live.

“The apex bank seems to have learnt from the botched launch of Obamacare which was coincidentally launched on the 1st of October 2013. Back then, the website was unable to consistently handle 500 users at once in the testing phase, and tests failed with 2,000 users over a three-day period, according to a Reuters report at the time. Engineers conducted performance tests just before launch and the results pointed to capacity issues that could affect a smooth experience on the launch date. Yet they proceeded, embarrassing President Obama.

“To sidestep a similar fate, Nigeria’s central bank decided to postpone the launch until they have assurances that their system has the right capacity to withstand a surge in visits.”

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Wole Soyinka Reveals He’s Been Banned from Entering the United States

Nobel Prize-winning writer Wole Soyinka says the U.S. has withdrawn his visa and requested its physical cancellation in Lagos. Wole Soyinka said on Tuesday that the United States had revoked his non-immigrant visa issued last year, and that he had been informed he must reapply should he wish to visit the U.S. again.

The 91-year-old writer had torn up his U.S. green card and renounced his American residency in 2016 in protest of the election of President Donald Trump. The Nobel laureate has held regular teaching appointments at American Ivy League universities since the mid-1990s, following his Nobel Prize for Literature in 1986.

“The moment they announce his victory, I will cut my green card myself and start packing up,” Soyinka had said.

On Tuesday, Soyinka presented reporters with a letter from the U.S. Consulate General in Lagos requesting that he bring in his passport for the physical cancellation of his visa.

The letter, dated 23 October, stated that “additional information became available” after the visa had been issued. The U.S. Embassy in Nigeria did not immediately respond to a request for comment.

“I have no visa; I am obviously banned from the United States, and if you want to see me, you know where to find me,” Soyinka said, addressing those who might have planned to invite him to events in the U.S.

In July, the U.S. Embassy in Nigeria announced that Nigerians applying for non-immigrant visas would now receive single-entry, three-month permits, rolling back the previous policy that had allowed multiple-entry, up to 5-year visas.

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“I Feel Sorry for Men with One Wife” – Ned Nwoko Has No Regrets After Marrying 4 Wives

Senator Ned Nwoko, who represents Delta North, has finally opened up about his marriage to Nollywood actress Regina Daniels, addressing weeks of speculation, accusations, and viral clips that set social media on fire.

The businessman and politician not only defended his controversial polygamous lifestyle but also denied claims that he had been violent towards his wife.

Speaking on Channels TV’s Politics Today on Sunday, the politician addressed the marital crisis with his actress wife, Regina Daniels, directly.

He made astonishing claims about the merits of multiple marriages and firmly rejected the explosive allegations of domestic violence.

In his own words, Ned painted himself as a man who has been misunderstood, while standing firmly by his tradition and choices.

Senator Nwoko was asked about the status of his marriage with his youngest wife, Regina Daniels, following the disturbing video of a 25-year-old Nollywood actress that went viral.
A teary clip showed the actress crying and saying she couldn’t “stand the violence anymore.” In the footage, she was heard lamenting, “In Ned Nwoko’s house, I am nothing. But in my own house, I am a Queen.”

The video triggered outrage across social media, with many Nigerians accusing the lawmaker of domestic abuse. However, Senator Nwoko firmly rejected the claim, saying the story was false and that he had never raised a hand on any of his wives.

In his usual calm but confident tone, Senator Nwoko also spoke openly about being a proud polygamist, calling it both a blessing and a cultural duty.

The 64-year-old Senator expressed sympathy, or perhaps pity, for men in monogamous marriages: “I feel sorry for those who have one wife,” he said.

He argued that having multiple wives offers men greater stability and balance, using a striking, easy-to-understand analogy: “Just imagine standing on one leg — it’s difficult. But with two, three, or four, you’re more balanced. That’s the example I give.”

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NCC, CBN’s move to end failed airtime, data transactions

e-naira

The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have joined forces to introduce a unified framework aimed at curbing failed airtime recharges and data transactions on electronic platforms.

The initiative, announced last week, seeks to enforce accountability among telecom operators, payment processors, and financial institutions, ensuring that millions of subscribers get timely redress for failed or incomplete transactions.

The Centre for Digital Justice and Consumer Rights (CDJCR) has applauded the move, describing it as a landmark in consumer protection. In a statement on Monday, October 20, 2025, the group’s Executive Director, Dr Kenechukwu Opara, said the collaboration between the two regulators was long overdue.

“For far too long, consumers have borne the brunt of system failures that are neither their fault nor within their control,” Opara said.

Opara noted that failed recharges and data purchases are among the most frequent complaints by telecom users, with many left stranded due to delayed or unresolved reversals. The new framework, he said, would protect millions of Nigerians who rely on mobile platforms for daily microtransactions.

Consumers are not just users; they are the backbone of the telecom and financial systems. By ensuring that customers get full value for every recharge and data purchase, the NCC is not only protecting rights but also deepening trust in Nigeria’s cashless and digital inclusion policies,” he added.

The CDJCR praised the NCC’s Executive Vice Chairman, Dr Aminu Maida, for prioritising consumer welfare and for pushing a proactive regulatory agenda.

While commending the regulators, Opara urged them to go a step further by enforcing clear timelines, transparent processes, and strict sanctions against operators who fall short of agreed standards.

“We encourage both regulators to publish the service level expectations for all stakeholders — telecom operators, payment processors, and financial institutions — so that consumers know who to hold accountable when transactions fail,” he said.

The group also applauded the CBN for embedding consumer rights in its financial protection framework, especially for low-income Nigerians who depend heavily on digital services for daily payments.

Beyond telecoms, Opara argued that the NCC–CBN partnership should become a model for other sectors where technology, finance, and service delivery intersect.

“This kind of inter-agency collaboration shows that government institutions can truly work in the interest of citizens. What matters now is strict compliance and constant review of the framework to adapt to new technologies and emerging consumer issues,” he said.

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