FG Considers eNaira As Possible Channel For Salary Payments

According to Ireporter Online, the Federal Government may soon begin disbursing salaries, pensions, and social welfare payments through the eNaira platform as part of a broader push by the Central Bank of Nigeria (CBN) to deepen the use of the country’s digital currency.

The development is reportedly contained in the Nigeria Payments System Vision 2028, a newly unveiled policy framework aimed at strengthening digital payment systems and expanding the role of the eNaira in everyday financial transactions across the country.

The eNaira, launched in October 2021 as Africa’s first Central Bank Digital Currency, was introduced to promote financial inclusion, reduce transaction costs, and enhance the efficiency of money transfers within Nigeria’s financial ecosystem. However, adoption levels have remained relatively low since its inception.

Under the new roadmap, the CBN is seeking to move the digital currency beyond its initial pilot phase and position it as a mainstream payment option for both public and private sector transactions. The apex bank also plans to review the existing regulatory structure to align the platform with current market realities and operational requirements.

The proposal outlines several key areas where the eNaira could be deployed more extensively, including government salary payments, pension disbursements, conditional cash transfers, offline transactions, and financial support for small businesses. If implemented, this would mean that federal workers and beneficiaries of government welfare programmes could begin receiving payments directly through the platform.

The CBN further highlighted that the eNaira’s programmable features could allow for more controlled financial transactions, including setting usage restrictions, defining spending timelines, automating payment splits, and creating multiple digital wallets tailored for specific financial needs.