Future of Payment in Africa: eNaira For Crypto Transactions will Boost Adoption

The CEO and Co-Founder of BitBarter – Etienne Okeke believe that using eNaira wallet for cryptocurrency transaction could boost eNaira adoption in Nigeria. Hence, Etienne beseech the Federal Government of Nigeria to bring crypto fintech aboard to help build use cases.

This suggestions was discussed in a topic; ‘The Future of Payment in Africa’ in the largest crypto gathering in Africa, Technext 2023 Coinference. Etienne suggested that a fast mean to drive the adoption of Nigeria’s Central Bank Digital Currency (CBDC) – eNaira is for the FG to work with crypto leaders and companies in a way that will open up the digital money for use by crypto investors.

“The discussion regarding the adoption of eNaira and the potential role of crypto fintech firms as facilitators for its acceptance is currently underemphasized. This becomes especially relevant given the current limitations on using bank accounts for crypto transactions. In essence, eNaira could serve as a seamless conduit, allowing unrestricted use for OTC transactions and various financial activities.”

Etienne gave his opinion that the government should continue to consider potential use cases for the digital naira. He suggests that this is an area where fintech companies operating in the cryptocurrency sector could play a crucial role.

These financial technology firms have numerous avenues to develop practical applications for the digital naira. Consequently, the government’s role would primarily involve supporting these companies and embracing their innovative use cases.