Paper Contents
Abstract
Financial inclusion makes sure that all people and enterprises have access to formal financial services that are both accessible and useful for enhancing welfare. Since digital money is domiciled with the CBN, the expectation is that it will help to contain inflation and make transactions easier without requiring the use of cash or trips to the bank. Nigeria, which has been labeled as immature because of its ongoing electrical crisis, corruption, and issues with internet accessibility, is likely to experience difficulties while using virtual wallets for digital currency that are registered under the CBN. Researchers are now wondering the feasibility, the benefits, and the challenges of the eNaira. The paper, therefore, examined digital currency, the financial inclusion, benefits, and challenges in the implementation of the eNaira. The scope of literature examines in this review include journal article and web document covering a period of 2015 -2023. It the study concludes that eNaira presents opportunities and challenges for the Nigerian government, the CBN, the financial sectors, individuals, and other stakeholders. It equally recommends amongst other things that financial education needs to be given attention, particularly in the area of using digital currencies, since this will promote inclusion among rural people.
Copyright
Copyright © 2023 Ahmed Yahaya Onumoh. This is an open access article distributed under the Creative Commons Attribution License.
