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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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Kanayo O. Kanayo demands lifetime streaming royalties for Nollywood stars

Veteran Nollywood actor Kanayo O. Kanayo has stirred up a conversation the industry has been quietly avoiding for years. The award-winning actor and lawyer recently proposed that the Actors Guild of Nigeria (AGN) implement a policy mandating lifetime royalty payments for all Nigerian actors and actresses featured in films uploaded to streaming platforms.

He also called for a dedicated agency to oversee and enforce compliance nationwide, arguing it would ensure performers earn from their craft long after the cameras stop rolling. The timing of the proposal is telling. Stories of financial ruin among once-beloved Nigerian actors have become alarmingly common.

Last month, veteran actor Abiodun Ayoyinka, widely known as Papa Ajasco, spoke openly about his financial struggles despite decades in the industry.

Two years prior, Hanks Anuku made headlines with public pleas for financial assistance after falling on hard times post-Nollywood.

Patience Ozokwor recently put it bluntly: “The reason why Nollywood actors and actresses are poor is that we don’t get royalties for what we do, we only get paid for our appearance at the shoot.” Her words, along with the others, show a consistent pattern of demand.

The proposal has drawn mixed reactions from industry figures. Writer-director Jadesola Osiberu responded with sarcasm, suggesting that if actors want royalties, perhaps they should also contribute to covering a producer’s losses proportional to their screen time, a dig at the one-sided nature of the demand.

Producer and actress Bolaji Ogunmola was more direct: if actors want backend earnings, they should negotiate equity stakes and invest in projects upfront rather than seek guaranteed payouts after the fact.

It’s a fair challenge. The music industry comparison many have reached for doesn’t quite hold up here.

In more structured film industries, residuals are tied to carefully negotiated distribution contracts and enforced by unions, organisations built over decades with legal infrastructure and industry-wide buy-in.

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Katsina plans mass wedding for 1,000 couples

The state government’s maiden welfare initiative will unite 2,000 individuals on April 25, even as armed bandits terrorise nearby communities. The Katsina State Government has announced a mass wedding ceremony for at least 1,000 couples drawn from all 34 local government areas, describing the initiative as a bid to ease the financial burden of marriage on the state’s most vulnerable residents.

The event, scheduled for April 25, 2026, will bring together 2,000 individuals, including widows, orphans, and economically disadvantaged people who, officials say, have long been willing to marry but unable to afford it.

The Director General of the Katsina State Hisbah Board, Malam Abu-Ammar, announced a livelihood support and counselling training session on Thursday.

He said the programme was conceived as part of the government’s efforts to reduce conditions that breed social vices.

“Many widows, orphans, and vulnerable individuals are unable to get married despite their willingness due to socioeconomic challenges,” he said.

The Katsina State Commissioner for Women Affairs, A’isha Malumfashi, added that all 1,000 couples had already undergone medical screening and compatibility verification ahead of the ceremony.

The government has promised support packages for both brides and grooms, though the total budget for the event has not been disclosed.

The announcement, however, comes at a fraught moment for the state. Just hours before it was made public, armed bandits reportedly issued a written ultimatum to communities in Kankia Local Government Area, demanding 700 cows and 1,000 sheep within four days or face violent raids.

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Trump threatens 50% tariffs on countries arming Iran

Donald Trump has cautioned that the United States will impose heavy tariffs on any country that is found to supply military weapons to Iran, raising the bar of pressure in the midst of continuing tensions with Tehran.

On Wednesday, in a statement released on his Truth Social platform, Trump stated that any country supplying arms to Iran would be subjected to a 50 percent tariff on all its goods exported to the United States without any delay.

“A country supplying military weapons to Iran will be immediately tariffed on all goods sold to the United States of America, 50 per cent, effective immediately. There will be no exclusions or exemptions,” he wrote.

The warning comes shortly after the U.S. president announced a temporary ceasefire arrangement with Iran following heightened tensions in the region. This happened just hours before the deadline, Donald Trump urged Iran to reopen the Strait of Hormuz. The US President announced a ceasefire facilitated by Pakistan. In a post X, the White House shared that Trump has issued a temporary hold on all military activities in Iran.

President Trump announced that after conversations with Pakistani Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, he will be suspending the bombing and attack on Iran for a period of two weeks after the Iranians agreed to an “immediate and safe opening of the Strait of Hormuz”.

He went ahead and added that the US has already met and exceeded all military objectives and is making progress on a long-term peace agreement with Iran. Trump also said his administration is considering possible economic relief measures for Tehran, noting that Washington is currently engaged in discussions around tariff and sanctions relief.

The developments follow Iran’s reported agreement to temporarily reopen the strategically important Strait of Hormuz, a key global shipping route at the centre of recent geopolitical concerns.

While details of the ceasefire and negotiations remain limited, the latest remarks highlight a mix of economic pressure and diplomatic engagement from Washington as it navigates relations with Tehran.

The series of warnings started in March, when Trump issued one of his most explosive warnings yet to Iran, saying the United States could “completely obliterate” the country’s electric plants, oil wells, and Kharg Island if a deal with a so-called “new and more reasonable regime” fails and the Strait of Hormuz is not reopened.

In a post on social media, Trump claimed the U.S. is in serious discussions with a new Iranian leadership aimed at ending American military operations in the country. However, he warned that failure to reach a deal quickly could prompt devastating military action against Iran’s infrastructure.

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