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- The Nigerian Central Bank’s e-Naira app has returned to app stores after being taken offline 48 hours after launch
- The Nigerian CBDC seemed to suffer technical problems, leading to a “barrage” of negative reviews
- The e-Naira has already been beset by delays prior to launch
The launch of the Nigerian Central Bank Digital Currency (CBDC) has been beset by post-launch problems, leading to the app being taken offline following a “barrage” of criticism. Users of the e-Naira app seemed to encounter a world of problems trying to use the app, which led to it being removed from the Google Play store before being added back two days later, apparently to fix the issues plaguing it.
Pre-launch Delays to Post-launch Issues
The e-Naira launch had been delayed at the last minute following an alleged lack of planning by banks in their ability to transact in the new digital currency, as well as a lawsuit by a Nigerian money transmitter who already used the e-Naira name. His lawsuit against the CBN ended amicably enough, leaving just the technical issues to be resolved.
These apparently done, the e-Naira launched last week to huge fanfare from President Muhammadu Buhari, only for technical issues to plague the launch, leading to it being taken off the Google Play store. Nigerian news outlet The Nation reported that this was due to many of the 100,000 users that had downloaded it plaguing it with “a barrage of negative ratings.” However, CBN spokesman Osita Nwanisobi said that it had been removed from the platform in order to facilitate an upgrade, adding that it would soon be up and running.
Users Worry Over e-Naira Protection
The e-Naira has also come in for criticism over the apparent lack of protection for users, with users of the platform not entitled to any compensation in case of loss due to a failure of the platform. This seems to include theft of funds, which has led to an outcry and a call for better protection if the government wants the e-Naira to take off.