According to a report, eNaira transactions in Nigeria have surged to 63%, with 13 million e-wallets opened since it was launched in October 2021. The eNaira recorded 700,000 transactions valued at ₦8 billion at the end of November 2022, which has since increased to ₦22 billion. The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, attributes the surge in eNaira usage to the use of the digital currency to disburse aid via a national welfare programme. The eNaira's slow take-off was boosted by a USSD code launched in June 2022 to promote its adoption. The demonetisation of the most valuable Naira notes and the hurried implementation of the policy led to a cash crunch and protests. While the Supreme Court has ruled that old Naira notes remain legal tender until December 2023, many Nigerian residents have turned to digital payment methods despite challenges with poor networks and failed transactions.

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