Evaluating Knowledge, Perception, and Adoption of Enaira Among Rural Dwellers: Implications for Central Bank Digital Currency Development in Nigeria

Abstract

E-naira is an electronic currency issued by the Nigerian government, controlled by the Central Bank of Nigeria, which was introduced in October 2021. The eNaira is the digital representation of Naira cash notes. This study assessed the knowledge, perception and adoption of eNaira among rural people and the impact on digital currency in Nigeria. A well-structured interview guide was adopted in this study wherein data was collected from 15 individuals and a focus group discussion consisting of 13 participants and the data was analyzed using thematic analysis. The study reported that the knowledge level of eNaira among rural dwellers is extremely low; all the participants have no knowledge about eNaira, their perception of eNaira is also negative and lastly the adoption of eNaira is influenced by several factors such as level of education, access to smart phones, digital literacy. The study recommended that relevant authorities to bridge the gap in information dissemination and implement educational campaigns to promote knowledge of eNaira for financial inclusion in the rural areas.