The data was revealed by the bank’s governor, Mr. Godwin Emefiele, at the 34th CBN Seminar for Finance Correspondents and Business Editors, which is currently taking place in Calabar, Cross River State.

The CBN’s Director of Policy, Dr. Hassan Mahmoud, spoke on behalf of Mr. Emefiele, who said that his team used COVID-19 and other local advancements to propel electronic payment channels.

His words, “The advent of the Corona Virus pandemic (COVID-19) no doubt triggered rapid advancements in financial technology leading to speedy digitisation of money and finance.

“The CBN took advantage of the opportunity by launching the eNaira in October 2021. The eNaira was developed to broaden the payment possibilities of Nigerians, foster digital financial inclusion, with potential for fast-tracking intergovernmental and social transfers.

“Since its launch, the CBN has continued to modify its features to make it more accessible to a wide range of users.

“Today, one does not need a smartphone to use the eNaira as it has become compatible with all generations of mobile devices (old and new). Till date, over 1.4m transactions have passed through the eNaira platform.”

On the Open Banking initiative, the governor said that it was aimed at expanding the cache of customer data warehoused in the financial sector for use in developing innovative products to service the needs of the public.

“The CBN will ensure that the data exchange will be done in a way to safeguard the privacy and concerns of the customers who own the data in the first place.