Naira Set to Be Replaced by New Digital Currency – CBN Governor Leaks Details

In a stunning revelation that could reshape Nigeria’s financial landscape, Central Bank of Nigeria (CBN) Governor, Dr. Amina Bello-Adamu, has reportedly disclosed that the Naira will soon be phased out and replaced by a fully digital national currency, tentatively called the “e-Naira Plus.”

This information was leaked during a high-level financial technology conference held on Friday evening at the Eko Convention Centre in Lagos, where the CBN Governor was caught on a hot mic during a closed-door strategy session with international fintech executives and policymakers.

“We have already finalized framework discussions with the Ministry of Finance. By Q1 2026, we are looking at gradually phasing out physical cash,” Dr. Bello-Adamu was heard saying.

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The e-Naira Plus, according to inside sources, is not the same as the pilot e-Naira project launched in 2021. The new version would be biometrically secured, integrated with national ID, and controlled via a blockchain ledger operated by the CBN.

Key Features of the e-Naira Plus

• Facial and fingerprint ID login for all wallets

• Smart taxation and subsidy tracking

• Offline capability in remote regions via QR cards

• Seamless international transfers in partnership with Visa & Paystack

Public Announcement Coming?

While the CBN has not made an official announcement, senior finance ministry officials, including Deputy Finance Minister Mr. Taiwo Falade, have confirmed that the transition to a digital-only currency has been under review for nearly two years.

“We are preparing the financial system for a cashless future. Nigeria cannot be left behind while the rest of the world moves forward with digital sovereign currencies,” Mr. Falade told Dobblog in an exclusive phone interview.

What Will Happen to the Old Naira?

Experts believe the current paper Naira will be gradually withdrawn from circulation in a similar pattern to the 2023 currency redesign. The full transition could take between 18 to 24 months, starting from early 2026.

Banks, fintechs, and POS agents are reportedly already undergoing quiet onboarding and training sessions for the digital migration.

Economic Reactions

Economists are divided. Dr. Bismarck Rewane, CEO of Financial Derivatives Company, warned:

“It’s bold, but Nigeria’s economy is still largely informal. If they rush this, it could leave millions of unbanked Nigerians behind.”

However, tech experts, like Flutterwave CTO Elohor Imade, praised the move as “visionary” and said it could help eliminate corruption, cash hoarding, and inflation caused by uncontrolled cash flows.

Nigerians React

On social media, reactions were mixed. Many users welcomed the idea of a secure, trackable currency, while others feared increased government surveillance and control.

Hashtags like #eNairaPlus, #NairaGone, and #DigitalTakeover were trending on X (formerly Twitter) and TikTok by Saturday morning.

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