The eNaira wallet was launched few hours ago by the Buhari led administration in Nigeria. While this may be a first in Africa, eNaira is far from ready.


eNaira may still be in its early stage, but its already plagued with errors.

One of the woes plaguing eNaira is coming from the signup process.


eNaira speed wallet signup complications.

As a Nigerian, when you signup for a traditional bank account and you are required to provide your bvn[bank verification number], the verification code to clarify the inputed bvn is yours, will be sent to the phone number associated with the bvn.

This is so, because most bvn holders registered for their bvn with the use of a  mobile number.

This is where things gets really messy.

When you signup for E-Naira through the eNaira speed wallet, you are required to bind your bvn number to the eNaira speed wallet.

eNaira speed wallet


But instead of a verification code being sent to the phone number associated with your bvn, it gets sent to an email address.

90% of bvn holders do not have an email address associated with the bvn, to fix the error, you are required to visit your bank to bind your bvn to an email address.



E-Naira: The Fall and Possible rise of Naira



Two main speculations why the above bvn error is being experienced with eNaira onboarding.

1. CBN and BITT.INC, the managers of E-Naira, choose to make use of email verification for bvn instead of the widely accessible phone number verification, to gather a negative publicity for the eNaira.

Lets face it, depending on the number of people trooping to their banks to associate their mail with their bvn, this will determine people’s willingness to accept the new digital currency from CBN.

eNaira woes


2. The Central Bank of Nigeria move to pick a foreign partnership over the abundance of locally available and competent associates for the E-Naira may already be showing.

Because, only a foreign developer of the eNaira core will not be aware that, millions of Nigerians holding bvn, did not bind the bvn to an email address.


But here is a question for you, have you been able to get onboard the eNaira? What are your thoughts and experiences so far?

Let us know in the comment section below, or tweet us @Allroundreview1


By zesushv

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x