VCASH Launches Central Bank of Nigeria eNaira API for International Money Transfer Operators

Ibadan, Nigeria July 04, 2023 –(PR.com)– The eNaira is the central bank digital currency (CBDC) issued by the Central Bank of Nigeria (CBN) in October 2021. It is a digital form of the Nigerian Naira that can be used for various transactions within and outside Nigeria. The eNaira aims to facilitate global trade, enhance financial inclusion, and reduce the cost of remittances.

VCASH has been working closely with the CBN since 2020 to develop and integrate the eNaira API. The API is approved by the CBN and has been integrated and tested by over 5 IMTOs, with 5 more in the pipeline. The API is also available to other financial institutions in Nigeria that want to offer eNaira services to their customers.

Dr. Peter Ojo, the CEO of VCASH, said: “We are proud to be the first fintech company in Nigeria to launch the eNaira API for IMTOs. This is a game-changer for the remittance industry, as it will enable Nigerians in the diaspora to send money home faster, cheaper, and more securely. It will also boost the adoption and utility of the eNaira as a digital currency that can be used for various purposes.”

He added: “We commend the CBN for its vision and leadership in introducing the eNaira as a CBDC. We look forward to working with them and other stakeholders to ensure that the eNaira fulfills its potential as a catalyst for economic growth and development in Nigeria.”

VCASH is a fintech company that provides innovative solutions for payments, remittances, and financial inclusion. It operates VCASH, a mobile money platform that allows users to send and receive money, pay bills, buy airtime, and access other financial services. VCASH, together with the parent company VTNGLOBAL also operates a global remittance platform that connects over 15,000 banks in more than 120 countries.

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Contact: Ayodeji Morakinyo
Email: [email protected]
http://www.virtualterminalnetwork.com
VTNetwork Limited

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VTNetwork Limited
Ayodeji Morakinyo
+234 7041911945
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https://www.virtualterminalnetwork.com

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