The International Monetary Fund has revealed that usage of the eNaira, Nigeria’s digital currency, has been flat since its inception in 2021.
The fund estimates that only 8% of eNaira wallets are in use, with transactions costing on average N53,000 per.
According to the report, 942,000 eNaira wallet downloads had been made as of November 2022.
This information was provided in the publications titled “Staff Report for the 2022 Article IV Consultation: Important Issues” and “Nigeria: Selected Topics.”