How To Become An eNaira Merchant and Make Money

How To Become An eNaira Merchant and Make Money

eNaira Merchant – The eNaira is a digital currency initiated by the Central Bank of Nigeria and approved by the Federal Government to help improve the monetary value, the currency will be using a medium of exchange and will be generally acceptable in the world.

Also Read >>> Link To Apply For CBN NIRSAL Covid-19 Targeted Credit Facility Loan

eNaira Merchant will pave the way for creating a passive income while you focus on your career.

How To Become An eNaira Merchant?

To become an eNaira merchant, you have to go to your bank and talk to the customer care service and request the eNaira merchant application form which will attract zero charges.

The form will be provided and you are expected to provide all the necessary information to qualify you to become a fully approved eNaira Merchant.

Who Is An eNaira Merchant?

A Merchant is a person to whom some or all aspects of the postal outlet have been delegated by a higher merchant, e.g. the Commercial Bank.

eNaira Application And Approval Requirement:

Any financial institution that wishes to engage in eNaira merchant shall submit an application for approval to the CBN. The application shall clearly state the extent of the merchant activities and responsibilities of the relevant parties.

The application shall be submitted to the Office of the Director, Banking & Payments System Department, CBN, Abuja.

All applicants shall supply information to the CBN as may be required from time to time.

Information required by the CBN to become a licensed eNaira Merchant shall include:

1. Name of the applicant

2. Postal Address/email

3. Business Address

4. Telephone number

5. Company Registration Number/certificate

6. Bank Verification Number

7. Know Your Customer (KYC) information.

Activities To Be Carried Out By The eNaira Merchant:

1. eNaira deposit and transfer.

2. Bills payment (utilities, taxes, tenement rates, subscription, etc.).

3. Payment of salaries.

4. Balance inquiry.

5. Generation and issuance of the mini statement.

6. Agent mobile payments/banking services.

7. Repayment of loans.

8. Collection of bank mail/correspondence for customers.

9. Any other activity as the CBN may from time to time prescribe.

eNaira creates specific solutions that are all-encompassing for individuals and organizations. eNaira don’t run a one-size-fits-all service model. eNaira exists not just in your wallet but in the tech lab, thinking and rethinking ways, it is a product of Nigeria belief that we (collectively) can make life easy, safe, one Naira at a time. Feel free to visit the link(s) that concern you and if you can’t find anyone, know that we are reengineering to meet your expectations.

Who can be an eNaira Merchant?

1. Individuals

2. Financial Institutions

3. Government

4. Businesses

5. NGOs

Also Read >>> How To Check CBN NMFB Covid-19 Household and SME Loan Approval Status

What you should know about the Digital Currency:
  • In August, the Central Bank of Nigeria (CBN) announced that Bitt Inc., an international fintech firm, has been appointed as the Technical Partner for its digital currency, dubbed eNaira, which would be presented later this year.
  • Bitt Inc is a financial technology business that uses blockchain and distributed ledger technology to enable safe peer-to-peer transactions with seamless mobile money across Bitt’s software and mobile apps.
  • The Central Bank of Nigeria has stated that the e-naira which will be launched on October 1, is a legal tender equal to the naira and must be accepted as a form of payment by all merchants and business establishments.
  • For more information visit the official website here.
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