The Central Bank of Nigeria (CBN) has enhanced its eNaira app by integrating Near Field Communication (NFC) technology, making it a cutting-edge and internationally recognized application. NFC enables contactless communication between devices, allowing for secure and convenient transactions.
During an eNaira sensitization workshop at the University of Abuja, Joseph Angaye, the CBN team leader, highlighted the apex bank’s commitment to investing in service upgrades and emphasized the positive feedback received from users and stakeholders. The NFC-enabled payments reader embedded in the eNaira app enables quick and secure contactless payments, positioning it as a unique and advanced digital payment solution.
Angaye emphasized the numerous benefits of the eNaira app, including programmability to restrict usage within specific locations or for particular purposes, such as intervention programs for farmers. The CBN’s eNaira aims to enhance financial payment infrastructure, reduce settlement risks, minimize leakages, deepen financial inclusion, and provide a wide range of services that benefit Nigerians.
Shadrach Abdul, another CBN official, highlighted the innovation behind the eNaira app and the introduction of NFC technology, which allows users to make payments using their smartphones or even non-smartphones by attaching an NFC sticker. The deployment of NFC technology at the University of Abuja is expected to revolutionize transactions and improve accounting systems.
Opinion: The upgrade of the eNaira app with NFC technology by the Central Bank of Nigeria reflects the institution’s commitment to adopting advanced solutions and promoting digital payments in the country. The inclusion of NFC enables secure and convenient contactless transactions, aligning with global trends in digital finance. By leveraging technology and partnering with institutions like the University of Abuja, the CBN is taking proactive steps to drive financial inclusion, reduce payment inefficiencies, and provide a seamless digital payment experience for Nigerians.