How To Register For eNaira With Zenith Bank

The eNaira is a legal tender digital currency produced by the Central Bank of Nigeria, functioning as a central bank digital currency (CBDC). The digital representation of the Naira will function as a sort of currency, equivalent to physical cash.

Individuals have the option to establish either a personal eNaira account or a merchant eNaira account for their company.

Additionally, please refer to: A Guide on How to Enroll for eNaira Using UBA

What is the definition of an eNaira wallet?
The eNaira cryptocurrency is stored in a digital wallet. The data is saved and supervised on a distributed ledger.
Accessing, retaining, or using eNaira is impossible without the eNaira wallet.

Do eNaira represent units of digital currency?
Incorrect.
The eNaira, issued by the Central Bank of Nigeria, has complete endorsement from Nigerian legislation and national authority. • Cryptocurrencies are decentralized digital currencies that lack official support, physical assets, or legal backing. The eNaira lacks legal enforcement. It functions as a means of trade, a repository of worth, and a measurement unit. Not all of these attributes are inherent in cryptocurrencies.

What distinguishes eNaira from the cash held in my bank?
Customer deposits are held by banking institutions, whereas eNaira is a digital form of money that is managed solely by the Central Bank of Nigeria.

What are the differences between using an eNaira wallet and an online bank for routine purchases?
Utilizing eNaira eliminates the need for a middleman, in contrast to conventional online banking transactions.

Regarding eNaira, what is the primary role of the central bank?
The Central Bank of Nigeria (CBN) has the authority to issue any kind of Naira currency, as specified in Section 2 of the CBN Act 2007.
In addition, financial institutions will have the opportunity to seek advise from the central bank about the technical, regulatory, and operational standards that will govern the eNaira.

Will eNaira serve as a substitute for physical currency?
Negative. The money will be in constant motion. The eNaira, being a more convenient, efficient, widely used, secure, and reliable substitute for cash, will complement the existing payment choices.

Are there any potential security vulnerabilities associated with the use of eNaira?
eNaira is safeguarded against cloning, counterfeiting, and many forms of assaults by using cryptographic techniques.

Is the confidentiality of my information guaranteed as a user of eNaira?
Affirmative. The level of protection for user information and eNaira transactions is equivalent to that provided for current online banking users. Operational standards and practices provide additional protection for users’ privacy and identity.

Additionally, please refer to the instructions for registering for FCMB online banking.

Which individuals meet the criteria to use eNaira?
Provided that they fulfill the onboarding requirements, both individuals and companies are eligible to use eNaira, similar to traditional money.

What is the appropriate exchange rate between one eNaira and one real naira?
The value of eNaira will be equivalent to that of physical naira. Consequently, it will be exchanged with another.

How can I use eNaira?
Customers may utilize the eNaira wallet, accessible on platforms such as Apple’s App Store and Google Play, to get access to eNaira.

What is the origin of eNaira wallets?
To enroll in eNaira, download the application (named “Speed”) from either the App Store or Google Play and install it on your smartphone.
To register on a feature phone, use USSD codes and adhere to the instructions shown on the screen.

How can I finance my eNaira wallet?
Multiple techniques are available for this objective.
You have the option to use your bank account or choose for an alternative wallet, whether it personal or company, to facilitate the transfer.
• Cash payment mediated by a bank or agency

Provide instructions on how to establish a connection between my eNaira wallet and my bank account.
Users have the option to choose their chosen financial institution, connect their eNaira accounts, and carry out transactions directly from their mobile device.

How can I establish an eNaira wallet for my company?
Below are the steps you must follow to create an eNaira wallet as a merchant or corporate entity:
eNaira wallets may be obtained by downloading them from app stores such as the Google Play Store or the Apple Store.
Upon registration, it is necessary to provide your Taxpayer Identification Number (TIN) and choose a bank to authenticate your details. After the selected bank has verified the merchant’s information, it will inform the merchant and create a wallet for them.

Could you maybe provide me with information on the different tiers of eNaira wallets that a merchant can open?
• Complete understanding The criterion for Know Your Customer (KYC) while setting up a merchant or corporate account may be found during the creation of a merchant wallet. The following are the defined constraints for the wallet:
Arrange according to:Account-holding Customers
Bank confirmation, Tax Identification Number (TIN), and Bank Verification Number (BVN) are essential prerequisites.
Unlimited Daily Transactions (NGN)
The daily increase in total amount (in Nigerian Naira) is unlimited.

How can I get assistance or resolve unsuccessful transactions on eNaira?
Utilize the several communication methods available to reach the bank’s customer care, including phone (0800myenaira), email, Whatsapp, etc., which you choose during your eNaira registration. We will swiftly attend to client problems. In the event that a complaint remains unresolved after a period of 48 hours, please reach out to CBN’s eNaira Customer Support at helpdesk@enaira.com.

Indeed, the eNaira wallet is very safe. The eNaira system ensures the security of customers’ wallets and eNaira holdings via the use of cryptographic encryption and a two-factor authentication approach.

Do you know the procedure for changing my password?
Within the application’s settings area, you have the ability to reset your password.

What is the procedure for reporting problematic eNaira queries or concerns made by financial institutions (FIs) to the Central Bank of Nigeria (CBN)?
Contact information: 0800myeNaira, eNaira@cbn.gov.ng

Procedures for Establishing a Zenith Bank eNaira Account
The eNaira application is available for download on the Google Play Store.
Select Zenith Bank from the provided options of financial institutions.
Kindly authenticate your registration by inputting your BVN, DOB, and email address with utmost accuracy, ensuring they match the information in your bank records.

To enroll in eNaira at Zenith Bank, just follow the registration process.