Newsletter on the eNaira Draft Regulatory Guidelines

In an attempt to provide legal and regulatory clarity on the proposed eNaira, the CBN has prepared the draft Regulatory Guidelines on eNaira (Draft Guidelines). Upon its issuance by the CBN, the Draft Guidelines will inter alia, regulate the issuance and use of the eNaira and will apply to all financial institutions and users of the eNaira.

In this Newsletter, we examine the key provisions of the Draft Guidelines, including the provisions on the nature and description of eNaira, the participants in the eNaira ecosystem, their roles and responsibilities and other security measures that are applicable to eNaira.

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