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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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Entertainment

Odumodublvck drops 23-track Industry Machine album

Nigerian rapper Odumodublvck has officially dropped his highly anticipated 23-track album, Industry Machine, featuring powerhouse collaborations with Wizkid, Davido, Skepta, Seun Kuti, and several others. Produced by Telz and P.Priime, the project seamlessly fuses hip-hop and Afrobeats, underscoring Odumodublvck’s versatility and bold sonic direction. Within hours of its release, the album soared to No. 1 on Apple Music Nigeria’s Top Albums chart, signaling both widespread acclaim and the rapper’s growing dominance in the music industry.

Among the standout tracks, “Big Time” featuring Wizkid debuted at No. 9 on Apple Music’s Top Songs chart, earning praise for its infectious rhythm, Wizkid’s captivating verse, and Odumodublvck’s sharp lyricism. Fans and critics alike have hailed Industry Machine as a defining moment in Nigerian music, celebrating its high production value and collaborative depth. Speaking on the project, Odumodublvck described it as “a celebration of creativity, hustle, and the evolution of the industry,” cementing his reputation as one of the country’s most innovative and influential rap voices.

For a while now, followers of Nigerian music have been keenly aware of the concept of the ‘INDUSTRY MACHINE.’ The swaggering phrase has been an integral part of the digital vocabulary of Nigerian rapper and singer, ODUMODUBLVCK, hinting at the highly anticipated follow-up to his 2023 mixtape, ‘EZIOKWU’, which spawned several hit tracks and established his reputation as one of Nigeria’s finest Hip-Hop acts.

In the two years since ‘EZIOKWU,’ ODUMODUBLVCK has only grown more unstoppable, racing to the top of charts in Nigeria on multiple occasions while showcasing the full breadth of his amorphous Okporoko sound on songs like “100 Million” and “NOT ALL THAT” as well as on collabs like “JUJU,” “Funds,” and “Flako.”

Seven months after the surprise drop of ‘THE MACHINE IS COMING,’ ODUMODUBLVCK has finally released ‘INDUSTRY MACHINE,’ bringing a thrilling conclusion to months of anticipation with a blockbuster 23-track release that runs through the full gamut of the Abuja rapper’s fascination and beliefs across a variety of soundscapes.

Throughout ‘INDUSTRY MACHINE,’ ODUMODUBLCK glides between euphoric party starters (“BANZA BOY, “VINICIUS,” and “GROOVING”) and gritty Rap joints (“UNAWARE,” “IF YOU LIKE GYM,” and “LAYI WASABI.”). At different turns, he reveals a new layer to his work without losing touch with the uniquely Abuja perspective that broke him through.

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Lifestyle

#SpotlightAfricaThrowBackSeries Ado-Ekiti Indigenes Celebrate the Life and Times of Late Chief Ogunremi

Ado-Ekiti witnessed an outpouring of tributes as family, friends, and dignitaries gathered to honour the life of High Chief Oluwasesan Ogunremi, the Barafon of Ado-Ekiti and a respected leader of the traditional warlord chiefs in the kingdom.

The funeral began with a Christian wake and service of songs at the open grounds of St. Patrick’s Catholic Cathedral, Ado-Ekiti, before proceeding to the deceased’s compound in the Idolofin axis of the town for the main service. The ceremony, attended by top figures from within and outside Ekiti, featured prayers, thanksgiving, and eulogies in recognition of the late chief’s contributions to his community.

Following the service, Chief Ogunremi’s remains were interred at his residence, accompanied by hymns and tributes from relatives and well-wishers.

A reception later took place at the Ekiti Parapo Pavilion, where guests—including family members who travelled from the United States, United Kingdom, Canada, and Germany—were entertained with a lavish banquet. The event featured a performance by renowned gospel and highlife singer Evangelist Yinka Ayefele, while veteran emcee Olushola Oladele, popularly known as Pa Aristoe, anchored the proceedings.

The gathering attracted prominent personalities such as Mr. Babatope Adebiyi (King Jafil), Mr. Goke Olatunji, Regent Omotunde Adelabu, Hon. Abiodun Fawekun of the Ekiti State House of Assembly, members of the Ewi-in-Council, lawmakers, politicians, business leaders, and artisans.

Born on February 7, 1929, to Mr. Williams Akomolafe Ogunremi and Princess Abigail Ogunremi in Ado-Ekiti, Chief Ogunremi began his education at St. George’s Primary School, Agere, before moving to Lagos for electrical training. He later founded the well-known Micho Electronics and worked with business figures such as Chief Lawrence Omole and Chief Ajanaku in Ilesha.

He married his first wife in Ilesha, where the ceremony was held at St. Mary’s Catholic Church. In 1970, he returned to Ado-Ekiti and established Micho Motors, expanding his business interests into the automobile sector. His ventures took him across Europe, including Austria, Brussels, Italy, and Germany.

In July 1988, he was installed as the Barafon of Ado-Ekiti by Oba George Adelabu, the Ewi of Ado-Ekiti. He became widely known for hosting the Udiroko Festival at his Okeilaja palace, a major cultural event that drew indigenes and chiefs before culminating in celebrations at the Ewi’s Palace. He later served as commissioner of the Ekiti State Electricity Board during the administration of Governor Adeniyi Adebayo.

Until his passing, Chief Ogunremi remained an active member of St. Patrick Catholic Cathedral, Ado-Ekiti. He is survived by his wives, children, grandchildren, and great-grandchildren.

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Fresh reaction emerges over Saraki’s peace move amid PDP crisis

The Peoples Democratic Party (PDP) Renaissance group has praised the reconciliation efforts of the committee led by former Senate President Bukola Saraki, describing the intervention as pivotal in preventing the party from collapsing under internal disputes.

In a statement issued on Thursday, August 28, Bashir Sulaiman, convener of the group, commended both Saraki’s Reconciliation and Strategy Committee and the PDP Governors’ Forum under Governor Bala Mohammed of Bauchi State for “restoring peace where many expected chaos.”

“I am very impressed by what Dr. Bukola Saraki, the Reconciliation and Strategy Committee, and PDP Governors Forum, led by Governor Bala Mohammed, have done to get the PDP back on track,” Sulaiman said.

“They were tasked with resolving disputes and preparing the party for its convention, and they have delivered with precision and dedication.

The PDP has been in turmoil since the 2023 general election, with key figures such as Sunday Udeh-Okoye, Setonji Koshoedo, and Sam Anyanwu embroiled in a tussle for the National Secretary position.

According to Sulaiman, Saraki’s intervention was instrumental in ensuring that the long-standing dispute was finally resolved in favour of Anyanwu.

“Many had predicted that the PDP would collapse under the weight of its internal disagreements. Yet, thanks to Dr. Saraki, his Reconciliation Committee, and the backing of the PDP Governors’ Forum, the party has defied those expectations,” Sulaiman noted.

“The 100th, 101st, and 102nd NEC meetings were conducted without rancour, and lingering disputes have been amicably settled.”

With preparations for the party’s convention and zoning framework now underway, the PDP Renaissance group believes the opposition is on course to reclaim power from the ruling All Progressives Congress (APC).

“The party is now better positioned to take power back from a government that does not care about the needs of the people,” Sulaiman said.

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