The Federal Government may soon begin disbursing salaries, pensions and social welfare payments through the eNaira platform as part of efforts to deepen the adoption of the Central Bank of Nigeria’s digital currency.
This is according to the Nigeria Payments System Vision 2028 document released by the CBN, which outlines plans to transform the eNaira from a pilot initiative into a mainstream payment channel for both public and private sector transactions.
The eNaira, launched in October 2021 as Africa’s first central bank digital currency, was introduced to promote financial inclusion, reduce transaction costs and support Nigeria’s transition to a cashless economy. However, uptake of the digital currency has remained below expectations since its introduction.
In the roadmap, the apex bank said it plans to review the existing framework governing the digital currency to align it with emerging market realities and operational requirements.
The CBN noted that the eNaira would be repositioned as a core payment platform with specific use cases, including government-to-person payments, payroll administration, offline transactions and support for small businesses.
Under the proposal, government workers, pensioners and beneficiaries of social intervention programmes could receive payments through the digital currency platform as authorities seek to improve payment efficiency and drive wider adoption.
The document also highlighted the eNaira’s programmable features, which could allow users to set spending conditions, create dedicated wallets, split payments and apply time-based restrictions on transactions.
According to the CBN, such capabilities could enhance the functionality of digital payments while supporting broader financial inclusion goals.
The bank further stated that the digital currency could strengthen Nigeria’s financial infrastructure by facilitating faster and cheaper settlements involving banks, financial institutions and tokenised assets such as bonds and securities.
The initiative forms part of the broader Payments System Vision 2028 strategy, aimed at modernising Nigeria’s payment ecosystem through improved infrastructure, enhanced regulation and the adoption of innovative financial technologies.
CBN Governor, Olayemi Cardoso, said the vision seeks to strengthen Nigeria’s position as one of Africa’s leading digital payment markets while promoting efficiency, resilience and inclusiveness across the financial system.
He said the strategy prioritises the modernisation of payment infrastructure, stronger regulatory oversight, increased adoption of digital financial services and deeper collaboration among stakeholders.
Also speaking, the CBN Deputy Governor for Economic Policy, Dr Muhammad Abdullahi, said the framework would support the expansion of digital currency applications and other innovative payment solutions within a robust regulatory environment.
Despite recording millions of wallet registrations and transactions valued at about N22bn, the apex bank acknowledged that the eNaira has yet to gain significant traction in everyday commercial activities.
The document identified weak merchant acceptance, limited integration with banking and fintech platforms, and the absence of cross-border digital currency payment corridors as major challenges affecting adoption.
To address these concerns, the CBN said it would reposition the eNaira for government payments, remittances and trade settlements while opening its application programming interfaces to fintech operators.
The bank also disclosed plans to launch bilateral digital currency payment pilots with key trade and remittance partners to facilitate seamless cross-border transactions.
The proposal comes amid growing global interest in central bank digital currencies, with more than 130 countries reportedly exploring, testing or developing their own digital currency systems.
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