Providers fail to adopt eNaira as downloads stop at 220,000


The initial enthusiasm that greeted the launch of eNaira last Monday appears to have waned as the number of downloads declined over the past five days from around 180,000 on Tuesday to around 220,000 on Sunday. The punch observed.

PUNCH observed that within 48 hours of launching the app on the App Store and Google Play, the number of downloads of the eNaira Speed ​​Wallet and eNaira Merchant Wallet was approximately 180,000 combined.

However, following a deluge of negative reviews, the eNaira speed wallet, aimed at consumers, was taken down for about a day, upgraded and then restored.

Since the app’s return to Google PlayStore and the App Store, downloads have not increased significantly.

Checks by The PUNCH on Sunday night showed that the number of downloads of the Speed ​​Wallet on the Google Play Store remained at over 100,000 for the seventh day in a row while the eNaira merchant wallet, designed for businesses, is increased from 10,000 downloads to 50,000 downloads and more. on the Google Play Store in five days, bringing the total number of downloads to Android devices to 150,000 plus downloads.

For Apple devices, the number of downloads for Merchant Wallet and Quick Wallet amounts to 70, 150 downloads on Ipad and Iphone devices.

Also, checks by The punch Sunday showed that many providers had not embraced eNaira transactions despite banks setting up platforms for such transactions.

A call made to the customer service phone of the online shopping platform, Jumia, revealed that no arrangements had been made for the eNaira payment.

Speaking to The PUNCH on Sunday, a former director general of the Lagos Chamber of Commerce and Industry, Mr. Muda Yusuf, said the initial enthusiasm that led to the downloads of the eNaira app may have been based on curiosity.

Yusuf, who is the managing director of the Center for the Promotion of Private Enterprise, said: “It is only natural that the initial enthusiasm for eNaira generated great interest from the start. There was also the curious disposition of many people. Maintaining such momentum would require much more.

“Citizens need to be convinced of the value proposition of the eNaira initiative. Many are still struggling to understand this and determine the value it would bring beyond existing payment solutions. ”

Yusuf added that the issue of trust should also be addressed.

He added that many Nigerians may not have adopted the eNaira due to the Central Bank of Nigeria’s clause that the apex bank is not responsible for the problems encountered with the use of e-money.

The economist said: “The recent CBN publication indicating that it would not be responsible for losses incurred through the platform may also have had a negative impact on confidence. It could easily be misinterpreted by many.

“It was also reported that the platform was momentarily deactivated online although it was later restored. It could also have had an effect on credibility. The CBN also announced that there are fake eNaira platforms. All of this could have depressed the initial enthusiasm for the eNaira.

Attempts to get the CBN’s comment on the development were unsuccessful as calls to spokesperson Osita Nwanisobi went unanswered.

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