How to Become An eNaira Merchant
Becoming an eNaira Merchant is the first step toward establishing an additional income. It is a digital currency created by Nigeria’s Central Bank and approved by the Federal Government to aid in the growth of the country’s monetary value. The currency will serve as a medium of exchange and will be widely accepted worldwide. In this post, we will walk you through the steps required to become an eNaira Merchant and start earning money.
How to Become An eNaira Merchant
To become an eNaira merchant, contact your bank’s customer service department and request the eNaira merchant application form, which is free of charge. The form will be provided, and you will be expected to fill it out completely in order to qualify as a fully recognised eNaira Merchant.
Who Is An eNaira Merchant?
An eNaira merchant is someone to whom a higher merchant, such as a major bank, has assigned some or all aspects of the postal outlet.
Requirements for Application and Approval
Any major bank that wishes to participate in the eNaira merchant must apply to the CBN for approval. The application must clearly state the scope of the merchant operations as well as the duties of the relevant parties.
The following information is required by the CBN in order to become a licenced Merchant:
- The applicant’s name is
- Telephone number/address for correspondence/email
- Number/certificate of the company’s registration
- Number for Bank Verification
- Information on Know Your Customer (KYC)
- The eNaira Merchant’s responsibilities include eNaira deposit and transfer.
- Payment of bills (utilities, taxes, tenement rates, subscription, etc.).
- Salary payments are made.
- Inquiry into the balance.
- The mini statement is created and issued.
- Agent mobile banking/payments services
- The repayment of debts.
- Customers’ bank mail/correspondence.
Based on the Central Bank of Nigeria’s declaration, the e-naira, which will be released on October 1, is a legal tender equal to the naira and must be accepted as a form of payment by all merchants and businesses across the country.
