CBN Reveal USSD Code For e-Naira Transaction

enaira
enaira

The eNaira’s Unstructured Supplementary Service Data (USSD) code is *997#, according to the Central Bank of Nigeria (CBN).

Ten months after the launch of the eNiara, the USSD code was made public.

According to the CBN, the *997# eNaira USSD code would enhance remittances from Nigerians who reside abroad, permit direct welfare payments to citizens, and increase the availability of central bank money, which will increase financial inclusion.

The eNaira has gotten 840,000 downloads since its inception on October 25, 2021, and its 270,000 active wallets, which include 252,000 consumer wallets and 17,000 merchant wallets, have processed N4 billion in transactions.

The five-day Northern eNaira expo 2022, where the USSD transaction code was announced on Thursday, was attended by the CBN Governor, Godwin Emefiele, and the apex bank’s Deputy Governor of Operations, Folashodun Adenisi-Shonubi.

Emefiele asserted that the eNaira, a Central Bank Digital Money (CBDC), will increase the use for Nigeria’s currency and improve people’s quality of life.

The adoption of the eNaira by Nigeria’s 81 million adult mobile phone users and 150 million mobile customers is what the CBN is counting on.

He further explained that:

β€œThe eNaira is expected to enhance inclusion, support poverty reduction, enable direct welfare disbursement to citizens, support a resilient payments ecosystem, improve availability and usability of central bank money.”

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