Economy
How to Download, Install, Operate eNaira (FULL DETAILS)
By Dipo Olowookere
On Monday, October 25, 2021, the Central Bank of Nigeria (CBN) launched the much-awaited electronic Naira called eNaira.
With the launch, Nigerians can now be able to download, install and use the mobile app to transact businesses across the country as long as there is an internet connection.
Business Post is bringing to use the step-by-step process of doing this to make it seamless for you. The app is available on both Google Play Store for Android users and the Apple App Store for iOS users.
From any of the play stores, search for the eNaira Speed Wallet app and when it appears, tap the Install icon to begin the download and installation process.
When this is completed, you would be required to signup to commence the onboarding process.
It will prompt the Select Your Bank menu. You would be required to choose your bank from the prop up and when this is done, the Create Account page will show for you to input your Phone Number (normally, this should be the number linked with your bank account) and Password, which must be a minimum of 12 characters.
When this is done, the next page will require you to input your;
First Name
Last Name
Date of Birth
State of Origin
Account Number
BVN
When this is completed, you will have to click the Continue button.
On successful validation of the details, a wallet activation mail is sent to the email address linked to your BVN.
Please note that the system will unlock you after 30 minutes.
When you get to your registered email, you will be required to click on Activate Wallet to confirm your email and activate your eNaira Speed Wallet.
Enter your Username (email address tied to your BVN) and the Password you created during the sign up to access your eNaira Speed Wallet.
To fund the eNaira Speed Wallet, log in to your Bank Mobile/Internet Banking platform and initiate the transfer and you are good to go.
As of the time of filing this report, the eNaira Speed Wallet has recorded over 5,000 downloads. The app size is 8.5MB
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Wednesday, February 26 with the Unlisted Security Index (NSI) static at 3,268.81 points and the market capitalization unchanged at N1.851 trillion.
The alternative stock exchange closed flat at midweek despite recording six price movers, with two in the green region and four in the red territory.
On the gainers’ side Afriland Properties Plc and FrieslandCampina Wamco Nigeria Plc, with the former rising by N1.12 to N22.80 per unit from the preceding day’s N21.68 per unit and the latter expanding by 76 Kobo to settle at N39.86 per share compared with Tuesday’s closing price of N39.10 per share.
However, First Trust Microfinance Bank Plc lost 5 kobo to close at 47 Kobo per unit compared with the previous day’s 52 Kobo per unit, Geo Fluids dropped 34 Kobo to settle at N3.58 per share versus the preceding session’s N3.24 per share, UBN Property Plc went down by 10 Kobo to finish at N1.75 per unit, in contrast to Tuesday’s closing price of N1.85 per unit, and Central Securities Clearing System (CSCS) Plc declined by 14 Kobo to close at N22.01 per share versus N22.15 per share.
During yesterday’s session, the volume of securities transacted by investors jumped by 99.3 per cent to 1.2 million units from the 605,399 units transacted in the previous trading day.
However, the value of transactions slid by 28.5 per cent to N10.6 million from N14.8 million, while the number of deals went up by 58.3 per cent to 38 deals from 24 deals recorded on Tuesday.
At the close of business, Impresit Bakolori Plc was the most active stock by value (year-to-date) with 533.8 million units worth N520.9 million, followed by Afriland Properties Plc with 16.4 million units valued at 335.2 million, and FrieslandCampina Wamco Nigeria Plc with 8.3 million units valued at N329.2 million.
Industrial and General Insurance (IGI) Plc ended the most active stock by volume on a year-to-date basis with 69.7 million units worth N23.6 million, trailed by Geo-Fluids Plc with 10.9 million units sold for N51.9 million, and FrieslandCampina Wamco Nigeria Plc with 8.3 million units valued at N329.2 million.
By Adedapo Adesanya
The Naira closed flat on the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, February 26 at N1,501.95/$1.
Also, the value of the local currency against the Pound Sterling and the Euro remained unchanged in the official market during the session at N1,894.72/£1 and N1,570.11/€1 apiece.
However, the Nigerian currency depreciated against the United States currency by N10 at midweek to quote at N1,500/$1, in contrast to the preceding day’s N1,490/$1.
The outcome of the local currency comes amid ease in the wider economy and recent moves like clearing backlogs, which have led to the country’s foreign reserves losing over $2 billion in the last month.
However, market analysts fear that the continued drop in the foreign reserves may only offer temporary respite to the Naira.
In the cryptocurrency market, most of the tokens fell on Wednesday after the US President, Mr Donald Trump, said he plans to impose a 25 per cent tariff on the European Union (EU) during his first cabinet meeting.
The price of Bitcoin (BTC) depreciated by more than 3 per cent in the last 24 hours to close at $85,878.47.
After the recent market selloff, there were calls that the drop might have been the bottom but Mr Trump’s EU tariff plans seem to have dampened market optimism.
The American President claimed that the 27-member union does not accept US cars and farm products while the US buys from the bloc.
On its part, the EU said it will react firmly and immediately against “unjustified barriers to free and fair trade”
Ethereum (ETH) slumped by 5.9 per cent to $2,341.69, Ripple (XRP) went down by 3.7 per cent to $2.20, Cardano (ADA) fell by 2.9 per cent to trade at $0.6625, Dogecoin (DOGE) depreciated by 1.3 per cent to $0.2076, Binance Coin (BNB) weakened by 1.2 per cent to $614.13, and Solana (SOL) declined by 1.0 per cent to $140.03.
But Litecoin (LTC) recorded a 6.9 per cent appreciation to quote at $126.46, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited recorded its first gain this week, with a marginal 0.02 per cent rise on Wednesday, showing resilience in the face of adversities.
Also, investor sentiment turned bullish after closing weak in the past trading sessions.
Yesterday, the bourse ended with 30 price gainers and 15 price losers, representing a positive market breadth index.
UH REIT gained 9.94 per cent to settle at N44.25, Africa Prudential jumped by 9.90 per cent to N33.30, Caverton soared by 9.87 per cent after a deal with the Nigerian National Petroleum Company (NNPC) Limited to N2.45, Omatek rose by 8.22 per cent to 79 Kobo, and Lasaco Assurance grew by 6.92 per cent to N3.09.
On the flip side, Guinea Insurance tumbled by 10.00 per cent to 72 Kobo, Eunisell crumbled by 9.68 per cent to N9.80, The Initiates declined by 8.02 per cent to N3.67, Oando shed 7.69 per cent to sell for N48.00, and Union Dicon dropped 7.50 per cent to trade at N5.55.
During the midweek session, the consumer goods counter chalked up 0.17 per cent, the insurance index appreciated by 0.16 per cent, and the industrial goods sector improved by 0.01 per cent.
However, the energy space gave up 0.71 per cent, and the banking sector depreciated by 0.21 per cent, while the commodity counter closed flat.
When Customs Street closed for the day, the All-Share Index (ASI) increased by 17.38 points to 107,798.99 points from 107,781.61 points and the market capitalisation added N11 billion to finish at N67.179 trillion compared with the preceding day’s N67.168 trillion.
Business Post reports that 245.5 million stocks worth N8.4 billion exchanged hands in 10,098 deals on Wednesday, in contrast to the 363.0 million stocks valued at N10.1 billion transacted in 13,753 deals on Tuesday.
This indicated that the trading volume, value and number of deals went down by 32.37 per cent, 16.83 per cent, and 26.58 per cent, respectively.
Access Holdings led the activity chart with 36.6 million shares sold for N937.9 million, Zenith Bank transacted 26.8 million equities worth N1.3 billion, Sterling Holdings exchanged 11.3 million stocks valued at N62.3 million, Jaiz Bank traded 10.9 million equities worth N36.1 million, and AIICO Insurance transacted 10.8 million stocks for N17.9 million.
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