Abuja, Nigeria – James Ndubuisi, in-house lawyer at Lagos-based entertainment firm SoundHive Group, is certain he has no need for the eNaira – Nigeria’s official digital currency – or its app.
“It needs to be entirely binned”, the 30-year-old told Al Jazeera.
He downloaded the app the same day it was released – on October 25, 2021. Months later, he says that its features are neither valuable nor reasonable.
When asked if he knew the eNaira could be accessed via USSD codes – a quick shortcode available even for users without smartphones – and if he would consider trying that option, Ndubuisi simply said: “Never heard that. Not interested in finding out”.
When the eNaira, the digital form of the naira and the first national digital currency in Africa, was launched by the Central Bank of Nigeria (CBN), officials of the apex bank said it would allow for financial inclusion and fiscal benefits to ultimately boost the economy.
In a televised speech at the time, President Muhammadu Buhari said adoption of the eNaira and blockchain technology “can increase Nigeria’s GDP by $29bn over the next 10 years”.
The eNaira was created as...
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