The Federal Government may soon begin using the eNaira to pay salaries, pensions, and social welfare benefits as part of a new Central Bank of Nigeria (CBN) strategy aimed at expanding the role of the country’s digital currency.
The proposal is outlined in the Nigeria Payments System Vision 2028, a policy document that seeks to transform the eNaira from a pilot initiative into a central platform for both government and private-sector transactions.
Launched in 2021 as Africa’s first central bank digital currency, the eNaira was designed to promote financial inclusion, reduce transaction costs, and support Nigeria’s shift toward a cashless economy. However, adoption has remained limited despite ongoing regulatory efforts.
Under the new roadmap, the CBN plans to expand the use of the digital currency for key public-sector payments, including salaries, pensions, conditional cash transfers, and other government disbursements.
The central bank also highlighted the potential of programmable money features, which would allow conditions such as spending limits, purpose-specific usage, and automated payment structures to be embedded into transactions.
Officials said the upgraded system could improve payment efficiency and strengthen financial infrastructure, including settlement systems and tokenised assets such as bonds and securities.
CBN leadership stated that the broader Payments System Vision 2028 is intended to modernise Nigeria’s financial ecosystem by improving infrastructure, expanding digital payment adoption, and encouraging innovation across the sector.
Despite recording millions of wallet registrations and transactions worth about ₦22 billion, the eNaira has struggled with low everyday usage due to weak merchant integration and limited real-world applications.
To address these challenges, the CBN plans to reposition the eNaira for government-to-person payments, remittances, and trade settlement, while also opening its system to fintech integration and cross-border payment pilots with partner countries.
The initiative aligns with global trends, as several central banks worldwide continue to explore or develop digital currencies for modern financial systems.
