device mobile phone
  1. Download the CBN eNaira Speed Wallet App from Google Playstore or Apple App store.
  2. Enter the mobile number and email address associated with your BVN
  3. Input the OTP received via your email box
  4. Select Standard Chartered Bank as your preferred bank to manage the eNaira.
  5. Update other details relating to your BVN and account details. These include;
    • Date of Birth
    • State of Origin
    • Standard Chartered Account Number
    • Bank Verification Number
  6. Enter your preferred 12-digits password
  7. Accept the Terms and Conditions and submit
  8. Once your profile is created, you will receive an activation email from CBN. Please check the mail to activate your profile.
money international fund transfer
  1. Login to our SC Mobile App or Online Baking Platform
  2. Go to Menu and select eNaira
  3. Enter your eNaira username (email address) and password created on CBN Speed Wallet app
  4. Select the option to make Deposit (Account to eNaira) or Withdrawal (eNaira to Account)
  5. Fill in the transaction details and submit.

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.

  • The eNaira wallet is a digital storage that holds the eNaira. It is held and managed on a distributed ledger.
  • The eNaira wallet is required to access, hold and use eNaira.

No, it is not.

  • eNaira is a legal tender backed by law, the full sovereignty of Nigeria, and issued by the Central Bank of Nigeria.
  • Cryptocurrencies are private digital currencies, not backed by law, underlying assets or by the sovereignty of any nation. They are not legal tender currencies.
  • eNaira is a unit of account, store of value and medium of exchange.
  • Cryptocurrencies do not have all these qualities
  • eNaira is the digital form of the cash and is a direct liability on the Central Bank of Nigeria while the customer deposits are direct liabilities on the financial institutions.
  • eNaira transactions are direct transfers.

For the typical online bank transaction, there are intermediaries whereas for eNaira transactions, there are no intermediaries

The benefits of the eNaira are:

  • Fast, cheap, reliable and available payment channels.
  • Support digital economy.
  • Improved economic activities.
  • Simplified and easy cross border payments and trade.
  • Inclusion of excluded people in the financial system.
  • Improved effectiveness of monetary policies.
  • Ease in tax remittance and collection to support the Country’s growth.
  • Ease in targeted social interventions to support Nigerians.
  • In line with Section 2 of the CBN Act 2007, the CBN is the issuing authority of all forms of Naira.
  • The Central bank will also be responsible for determining the technical, regulatory and operational standards for eNaira, to guide financial institutions.

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.

  • 99.9% service availability.
  • Low charges.
  • Nationwide acceptance.
  • No dispensing errors.
  • Advanced data privacy and security.
  • Instant settlement.
  • 99.9% service availability and reliability.
  • Low charges.
  • No dispensing errors.
  • No reconciliation issues.
  • Customers will be able to access eNaira via the eNaira wallet in app stores such as Google Play store and the Apple App store.
  • Users can also dial a USSD short code and follow the required steps to perform transactions (This feature is will not be available on October 1, 2021).
  • Available platforms from October 1, 2021 are the Mobile App and Internet Banking.
  • For smart phone users, download the eNaira app (termed “Speed”) from either the Google Play Store or Apple Store and complete the registration process.
  • Feature phone users, will utilize USSD codes and follow the registration prompts.

There are several ways to do so

  • Direct transfer from your bank account;
  • Transfer from another wallet either individual or merchant;
  • Cash payment through an agent or a bank.

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:

  • Visit app stores such as Google Play Store or Apple Store to download the eNaira wallet;
  • Register by providing your Taxpayer Identification Number (TIN) and identify a bank of your choice for validation;
  • Upon successful validation of a merchant’s details by a preferred bank, the merchant’s bank will create a wallet and advise the merchant.

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
  • Reach out to the customer support of the bank you selected when registering for eNaira through their available channels which includes: phone (0800myenaira), email, whatsapp, etc
    Disputes will be resolved as soon as possible.
  • If a customer’s complaints are not resolved within 48 hours, send an email to CBN’s eNaira Customer Support via

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.

For Complaints and support on eNaira. please Contact:
email –
call 0800myeNaira (080069362472)

You can also contact Standard Chartered Bank via
Email –
Phone – Contact Centre open 24/7 on +234 12704611-4 or 0800 123 5000 (Toll Free Number)

eNaira eNaira Digital Currency is live on our digital platforms! Complete your enrolment on CBN Speed Wallet app and login


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