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eNaira: CBN won’t bear losses caused by digital currency website

The Central Bank of Nigeria (CBN) has warned users that it will not be held liable for any loss, whether arising from, or in connection with the use of the eNaira website.

This information is displayed on the CBN’s eNaira website.

Attention was drawn to this disclaimer after the sudden disappearance of the eNaira wallet from the Google Play Store. Sources close to the issue have stated that it was taken down to make necessary updates.


What the CBN is saying

Limitation on liability read:

“In no event will the CBN or its directors, officers, employees, independent contractors, affiliates or agents, or any of its or their respective service providers, be liable to you or any third party for any use, interruption, delay or inability to use the eNaira website, lost revenues or profits, delays, interruption or loss of services, business or goodwill, loss or corruption of data, loss resulting from system or system service failure, malfunction or shutdown, failure to accurately transfer, read or transmit information, failure to update or provide correct information, system incompatibility or provision of incorrect compatibility information or breaches in system security, or for any consequential, incidental, indirect, exemplary, special or punitive damages, whether arising out of or in connection with the use of the eNaira website.” 

Users were also a little uncomfortable when information from the site stated that the CBN would not be held liable for errors made on the site. It read:

“The materials appearing on eNaira’s Website may include technical, typographical, or photographic errors. CBN will not promise that any of the materials in this Website are accurate, complete, or current. CBN may update the materials contained on the eNaira website at any time without notice and makes no commitment to update the materials.”  

In case you missed it  

The eNaira Speed Wallet app is missing from the Google Play Store just days after its launch on Monday, 25th of October, 2021.

The apex bank also warned that its attention had been drawn to criminal and unlawful acts by some persons, as well as a phoney Twitter handle, @enaira_cbdc, purported to belong to the Bank.

Recall this online medium  reported that massive interest in the Central Bank’s eNaira initiative was shown, with over 200,000 wallets downloaded in 24 hours.

President Muhammadu Buhari stated that eNaira would make the financial sector more efficient and help tackle the illicit flow of funds