Adeyemi Matthew
The eNaira Speed Wallet is back on Google Play Store 24 hours after its disappearance.It was reported earlier that the e-Naira Speed Wallet app
had gone missing from the Google Playstore on Wednesday, October 27, 2021, days
after its launch.
Director of Corporate Communications of CBN, Osita
Nwanisobi, said the app’s disappearance was only temporary as it was undergoing
an upgrade aimed at tackling glitches noticed since its launch.
Before it went offline, the app had been downloaded by over
100,000 people.
The app which went missing on Wednesday afternoon came live
around 1.00pm Thursday.
The Chief Consultant, B. Adedipe Associates Ltd., Dr Biodun
Adedipe, said the e-Naira would not affect deposits of commercial banks while
Dr Muda Yusuf and Daniel Udoaka have urged the CBN to enlighten the public on
the initiative.
Adedipe spoke at the National Business Extra fourth
anniversary lecture/awards yesterday in Lagos.
He spoke on the theme: “Cryptocurrency Vs E-Naira: Issues,
Prospects and Challenges in Nigeria Economy.”
Adedipe, who was the guest speaker, said e-Naira could not
replace deposits or reduce the ability of the banks to create credits.
“It has limits on the amount that can conveniently be
carried in a physical wallet,” he said.
According to him, banks will not lose their deposits to
digital naira because of limits on e-Naira wallet transactions.
He explained that cumulative balance limits and transfer
limits introduced by the CBN on Tier 1, 2 and 3 e-Naira wallet were small
compared with activities of commercial banks.
The cummulative balance limit for Tier 1 is N300,000 with
transfer limit of N50,000; Tier 2 balance unit is N500,000 with transfer limit
of N200,000.
The Central Bank of Nigeria (CBN), should embark on an
awareness drive and sensitise the people so as to generate trust and confidence
in the eNaira payment system initiative, an expert, Dr. Muda Yusuf, has said.
Udoaka said: “The only assurance that Nigerians will get is that it is controlled by the CBN. We may
not likely wake up one day to hear that CBN or the Federal Government has banned
it.”