To become an eNaira merchant, you have to go to your bank and talk to the customer care service and request the eNaira merchant application form which will attract zero charges. The form will be provided and you are expected to provide all the necessary information to qualify you to become a fully approved eNaira Merchant.Any financial institution that wishes to engage in eNaira merchant shall submit an application for approval to the CBN.
The application shall be submitted to the Office of the Director, Banking & Payments System Department, CBN, Abuja. All applicants shall supply information to the CBN as may be required from time to time.Presently, eNaira transactions are only enabled on MTN and 9mobile networks, however, there are plans to partner more telecommunication companies on the adoption of the Unstructured Supplementary Service Data which has almost no downtime.
Speaking on this, CBN coordinator on the eNaira, Ms. Rakiya Mohammed, said, the eNaira also came in to create an efficient and resilient environment for Nigeria’s electronic payments and transactions. “Our aim of the eNaira includes reaching out to the financially excluded and the unbanked. We had to not only do something that works on the smartphone but something that works on any feature phone and with tech companies coming on board such as BullNet, people with limited internet services can fund their eNaira wallet and have a safe wallet to be able to transact without having to go through the difficulties of having cash at hand,” she pointed out.