Skip to content

Digital-Currency Plan Falters as Nigerians Defiant on Crypto

  • Less than 0.5% of Nigerians are using the digital currency
  • Government action required to make success of the eNaira
A street trader and Keke Napep in Lagos.
A street trader and Keke Napep in Lagos.Photographer: Adetona Omokanye/Bloomberg
Updated on

A year after launching Africa’s first digital currency, Nigeria’s central bank is turning to the nation’s three-wheeler taxi operators to speed the adoption of the eNaira, as regulators across the world scrutinize its every move.

It’s offering a 5% discount to drivers and passengers of the motorized rickshaws -- known locally as Keke Napep -- who use the eNaira. It’s the latest attempt to kickstart the digital currency, which has so far attracted just one in 200 people in the continent’s most populous country.