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eNaira Merchant in Nigeria – Steps to Apply and Start making money



How to Become an eNaira Merchant in Nigeria and Start making money

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

The only website to apply for eNaira Merchant is


In this article, I will state the laydown procedures on how to become an eNaira Merchant and start making money. The eNaira will only be allowed to be distributed by the Central Bank of Nigeria, commercial banks, and eNaira merchants.

This will be an opportunity for those who are unemployed and want to create a business for themselves. Just the Point of Sale (POS) business we have today, that the mode of operation, the eNaira merchant will carry out transactions but in a digital format.

We have also written down an in-depth article about the eNaira Official website and what to expect, we encourage you to read the article to understand how the eNaira works and things you should take note of when it is finally launched.

We would update this section as soon as the mobile app is unveiled.

How to Become an eNaira Merchant in Nigeria

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 Merchant Application and Approval Requirements

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

  • eNaira deposit and transfer
  • Bills payment (utilities, taxes, tenement rates, subscription, etc.).
  • Payment of salaries.
  • Balance inquiry.
  • Generation and issuance of the mini statement.
  • Agent mobile payments/banking services
  • Repayment of loans.
  • Collection of bank mail/correspondence for customers.
  • 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 doesn’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’s 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?

  • Individuals
  • Financial Institutions
  • Government
  • Businesses
  • NGOs

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.

If you have more information, suggestion, opinion regarding this article, please write to us via and we would give you a reply in a jiffy.

We would also, update you if there are any documentation changes. Meanwhile, the eNaira merchant application form is not yet out. We would release the form here as soon as the form comes out.

Disclaimer: This article is written to understand how the eNaira Merchant will work, this is an unofficial statement from the CBN or the Government. To further understand how to become an eNaira Merchant, please visit your bank for more details or call the support team at +234800MYENAIRA

Bernard Bassey is a graduate of Software Engineering from AfriHUB University, Abuja. He is an expert in field journalism, his interest in socio-politics activities is keen.

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