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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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I’ll back only candidates who support Tinubu in FCT Polls – Wike

Minister of the Federal Capital Territory, Nyesom Wike, says he will support only candidates who support President Bola Tinubu’s vision, irrespective of political party, in the FCT area councils’ election scheduled for February 21.

Wike made the statement in Abuja on Saturday night during Senator Sandy Onor’s 60th birthday, a celebration of six decades of scholarship, leadership, service, and meaningful impact.

The Minister, who said he owed no one an apology for supporting Tinubu, promised to back any candidate aligned with the President.

“We have the FCT Area Council election coming up on February 21, and I have a duty to support any candidate who supports President Tinubu to win.

“It is also my duty to ensure that any candidate who is not supporting Tinubu does not win in the election, and I owe no apology on my stand,”* Wike said.

Speaking about the celebrant, Wike described Onor as a “credible ally, a trustworthy friend, and good brother.”

According to him, Onor is not only a friend but a reliable one, even in times of trouble: “I will continue to be with you and work with you, because I know even if I am not alive today, you will not abandon my family.”

Reading the citation for the celebrant, Prof. Anthony Eyang said Onor, born on Feb. 14, 1966, in Ikom, Cross River, was raised in an environment rooted in community values, discipline, and faith.

Eyang noted that Onor’s journey, from the lecture halls of the University of Calabar to the Nigerian Senate and onward to Cross River politics, “reflects a life devoted to learning, leadership, and the advancement of society.”

Earlier, Chairman of the planning committee, Senator Philip Aduda, said the event was a thanksgiving for God’s faithfulness in Onor’s life, both as an academic and a politician.

Former Governor of Benue, Mr Samuel Otom, who stood in for the Chairman of the Occasion, Dr Okezie Ikpeazu, former Governor of Abia State and Ambassador-designate, described Onor as an “icon,” a great Nigerian, and a man prepared and fit for leadership. He also called Onor a “good man.”

Former Attorney General of the Federation and Minister of Justice, Chief Kalu Agabi (SAN), described the celebrant as courageous and intelligent. “I love Sen. Sandy Onor because he is not one of those who stigmatise the constitution as a product of the military,” he said.

Head of Department of History and International Studies, University of Calabar, Prof. Dave Imbua, presented a Festschrift—a book written by scholars in honour of the celebrant, stating that Onor has remained a notable historian among academics.

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US sanctions 8 Nigerians over links to Boko Haram, And Other Crimes

us embassy

The United States has frozen the assets and properties of eight Nigerians accused of having links to the Islamic sect, Boko Haram, and the Islamic State of Iraq and the Levant.

This was contained in a 3,000-page document dated February 10, released by the United States Treasury’s Office of Foreign Assets Control and sighted by the correspondent on Monday.

The document also identified individuals sanctioned for cybercrime-related offences and other security threats. The pronouncement comes on the heels of recent recommendations by the US Congress for visa bans and asset freezes on persons and groups accused of violations of religious freedom and persecution of Christians in Nigeria.

The former Governor of Kano State, Rabiu Kwankwaso; the Miyetti Allah Cattle Breeders Association of Nigeria; and Miyetti Allah Kautal were recommended by United States lawmakers for visa bans and asset freezes.

The OFAC document, titled “Specially Designated Nationals and Blocked Persons List,” detailed individuals of other nationalities and entities whose assets had been frozen, serving as a reference tool. It also provided notice of actions taken against Specially Designated Nationals, whose property and interests were blocked as part of counter-terrorism efforts.

According to OFAC, the move forms part of its broader efforts to block the property and interests of Specially Designated Nationals and prevent financial dealings with them.

“This publication of Treasury’s Office of Foreign Assets Control is designed as a reference tool providing actual notice of actions by OFAC with respect to Specially Designated Nationals and other persons (which term includes both individuals and entities) whose property is blocked, to assist the public in complying with the various sanctions programmes administered by OFAC,” the agency said.

Among those listed is Salih Yusuf Adamu, also known as Salihu Yusuf, born on August 23, 1990, in Nigeria. Yusuf was identified as having ties to Boko Haram and was reported to hold a Nigerian passport.

Yusuf was among six Nigerians convicted in 2022 for setting up a Boko Haram cell in the United Arab Emirates to raise funds for insurgents in Nigeria. The six men were convicted in the UAE for attempting to send $782,000 from Dubai to Nigeria.

Another individual, Babestan Oluwole Ademulero, born on March 4, 1953, in Nigeria, was designated under SDNTK sanctions. He appeared under several aliases, including Wole A. Babestan and Olatunde Irewole Shofeso.

Also designated was Abu Abdullah ibn Umar Al-Barnawi, also known as Ba Idrisa. He was reportedly born between 1989 and 1994 in Maiduguri, Borno State, and was flagged under terrorism-related sanctions.

Abu Musab Al-Barnawi, also referred to as Habib Yusuf, was listed with varying birth years between 1990 and 1995. He was identified as a Boko Haram leader and sanctioned under terrorism provisions.

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Even with 10 million votes, Obi still wouldn’t have won the 2023 Elections — Lai Mohammed

Lekki Toll Gate

Former Minister of Information and Culture, Lai Mohammed, has insisted that Labour Party presidential candidate Peter Obi would not have won the 2023 presidential election even if he had secured 10 million votes.

Mohammed explained this while appearing on Edmund Obilo’s State Affairs Podcast, that Obi still could not get “one-quarter of votes cast in 25 states,” a constitutional requirement for winning the presidency.

“Even if Obi had got 10million votes, he wouldn’t have won. This is because he still could not get one-quarter of the votes cast in 25 states. It is even on record that he could not provide agents at about 40,000 polling units,” the ex-minister said.

Speaking on factors that shaped the 2023 election, especially in Lagos state, Mohammed said, “For the first time in the history of politics in Nigeria, ethnicity and religion played a very frontal role.”

He added that the #EndSARS protests had an impact, particularly in Lagos, where many youths “wanted a pound of flesh,” which did not help the APC or Bola Tinubu.

Mohammed further emphasized the difference between presidential elections and governorship or National Assembly contests.

“I am of the belief that the presidential elections are not as personal as the governorships or national assemblies. In presidential elections, a man might not be affiliated with any of the candidates. But when it comes to governorships, it is particular and peculiar because the candidate lives in the state,” he said.

On Tinubu’s leadership, Mohammed stated that the president does not withdraw support from allies after electoral defeats.

“Asiwaju is not the kind of person who will drop his support for you because you have lost the election. No, he will still encourage you,” he said, adding that Tinubu has often been underestimated due to his warm and charismatic personality.

“He is strategic and really understands Nigerian politics better than anybody you might think of,” Mohammed said.

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