CBN eNaira Speed Wallet – How to Sign Up

By | October 29, 2021


CBN eNaira Speed Wallet – How to Sign Up

eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira.

eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments. eNaira has an exclusive operational structure that is both remarkable and nothing like other forms of central bank money.

In addition, the embedded security token system makes your information unreadable to fraudsters because tokens are randomly generated every time you make a payment.

CBN eNaira Speed Wallet – How to Sign Up

To sign-up on the eNaira speed wallet, you would be required to input the following details exactly as captured during your BVN enrollment.

First Name, Last Name, Date of Birth, State of Origin, and Email

Your Banks are waiting to assist you in validating and updating your BVN details to ensure seamless enrolment to the eNaira Platform.

NB: Remember Your BVN details is YOUR Personal Information, Do not disclose to Anyone.

For Individuals – Account Opening Steps

  • Download eNaira app.
  • Enter minimum identification details (i.e., NIN, BVN, or KYC/AML Information, depending on the customer tier you are).
  • Enter other identification details (i.e., Name, Place and Date of Birth, Phone Number, Passport Photograph, Email and Password).
  • Minimum ID is validated.
  • You receive an email to activate your wallet.
  • Log in to account

  • Tier Zero – Customers without Existing Bank Account and without Verified NIN
    • Minimum Account Opening Requirement: Phone Number
    • Daily Transaction Limit: N20,000
    • Maximum Cumulative Daily Balance: N120,000
  • Tier One – Customers without Existing Bank Account
    • Minimum Account Opening Requirement: NIN
    • Daily Transaction Limit: N50,000
    • Maximum Cumulative Daily Balance: N300,000
  • Tier Two – Customers With Minimal Spending Abilities
    • Minimum Account Opening Requirement: BVN
    • Daily Transaction Limit: N200,000
    • Maximum Cumulative Balance: N500,000
  • Tier Three – Customers With Regular Spending Abilities
    • Minimum Account Opening Requirement: BVN
    • Daily Transaction Limit: N1,000,000
    • Maximum Cumulative Balance: N5,000,000

For Businesses – Account Opening Steps

  • Merchant downloads eNaira Mobile App.
  • Enters invitation code from bank and validates it.
  • Enters minimum identification details (i.e., Full KYC as stipulated in the CBN’s AML/CFT Regulations).
  • Enter your TIN (Tax Identification Number).
  • TIN is verified, enters other identification details (i.e., email, password, Business Category, Legal Business Name).
  • Financial Institutions verifies application.
  • eNaira wallet created and activated.
  • Merchant and Financial institution receives notification.

  • Tier Four – Customers with regular spending abilities
    • Minimum Account Opening Requirement: Full KYC as stipulated in the CBN’s AML/CFT Regulations
    • Daily Transaction Limit: N1,000,000
    • Maximum Cumulative Balance: Unlimited

For Government MDA’s – Account Opening Steps

  • MDA Downloads App.
  • Login with MD code.
  • Enter account (TSA/T24 Account).
  • eNaira wallet created awaiting verification from CBN.
  • CBN verify and notify MDA.
  • MDA proceed to top up.

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Israel Wellington Jeremiah is the Admin and publisher at Empowerment Opportunities. A seasoned online publicist and an entrepreneur.