eNaira Digital Currency is live on our digital platforms! Complete your enrolment on CBN Speed Wallet app and login to SC Mobile app or Online Banking to fund your eNaira wallet.
The eNaira is fast and safe for use
Make payments to merchants for goods and services very well.
No need to carry physical cash to transact.
By creating your eNaira wallet on SC Mobile or Online Banking, you can access the eNaira wallet when you log in to either of the platforms
eNaira is a Central Bank Digital Currency (CBDC) issued by the Central Bank of Nigeria (CBN) as a legal tender. It is the digital form of the Naira and will be used just like cash.
No, it is not.
For the typical online bank transaction, there are intermediaries whereas for eNaira transactions, there are no intermediaries
The benefits of the eNaira are:
No, it will circulate alongside cash. The eNaira will complement cash as a less costly, more efficient, generally accepted, safe, and trusted means of payment.
eNaira is safe and secured with cryptographic techniques against counterfeiting, cloning, and other forms of attack.
Yes. Similar to the privacy enjoyed by current online banking patrons, the eNaira system has been designed to ensure data and user privacy. There are also operational policies and procedures in place to protect users’ identity and privacy.
Similar to cash, any person or business can have access to eNaira as long as they have the requirements for onboarding.
The eNaira will have the same value as the physical naira. As such, it will be exchanged one to one.
There are several ways to do so
The eNaira app allows customers to identify a bank of their choice, connect to their bank accounts and perform transactions.
These are different tiers of wallets and they include:
|Tiers||Category||Requirement||Daily Limit||Cumulative Limit|
|0||No Existing Bank Account||NIN verified telephone number||20,000||120,000|
|1||No Existing Bank Account||50,000||300,000|
|2||Has an Existing Account||BVN + valid means of identification||200,000||500,000|
|3||Has an Existing Account||Tier 2 requirement + public utility receipt||500,000||5,000,000|
To create an eNaira wallet as a merchant/corporate, you will be required to follow the required steps:
As a merchant/corporate, you can open a merchant wallet with full KYC requirements for opening a merchant/ corporate account. The stipulated limits on the wallet are as follows:
|Category||Requirement||Daily Transaction Limit (NGN)||Daily Cumulative Balance (NGN)|
|Account Holders||BVN, TIN and Bank confirmation||No Limit||No Limit|
Yes. The eNaira system uses a two-factor authentication system in addition to cryptographic encryption to ensure the safety of customers’ wallets and the eNaira holding.
You can also reset your password within the App by navigating the settings menu.
This is to inform that by clicking on the hyperlink, you will be leaving www.sc.com/ng and entering a website operated by other parties:
Such links are only provided on our website for the convenience of the Client and Standard Chartered Bank does not control or endorse such websites, and is not responsible for their contents.
Thank you for visiting www.sc.com/ng