News
IMF Rates eNaira Performance Low
Published
2 years agoon
By
Editor
The International Monetary Fund has described the public adoption of the eNaira as disappointingly low.
This was contained in a working paper that was released recently by the body and titled ‘Nigeria’s eNaira, One Year After’, where the Bretton Woods institution highlighted how the digital currency fared in its first year.
President Muhammadu Buhari formally unveiled the digital currency at the state house in Abuja on October 25, 2021.
The IMF however said about 98.5 percent of eNaira wallets that were downloaded after the unveiling have been left unused.
READ ALSO: eNaira Records 700,000 Transactions Valued At N8bn – Emefiele
While stating that the Central Bank Digital Currency project had yet to move beyond the initial wave of limited adoption, IMF added that the eNaira usage by households and merchants has been slow.
“The retail wallet downloads saw a few weeks of the initial surge before tapering off. More specially, it only took 25 days for the number of downloaded wallets to reach 500,000 units—but going from there to 600,000 units took another 63 days; and to 700,000 units yet another 143 days,” the paper reads.
“As of end-November 2021, the total number of retail eNaira wallets amounted to about 860,000. This is just 0.8 per cent of Nigeria’s active bank accounts.
“Merchant wallet download has reached about 100,000 in end-June, which is about one-eleventh of the number of merchants with Point-of-Sales (POS) terminals—which enables credit or debit card payments.”
READ ALSO:Transactions On eNaira Platform Free For 90 Days -CBN
The institution further revealed that the downloaded wallets recorded low transactions while some have not been active except for the initial surge it recorded shortly after it was launched.
It added that the average number of eNaira transactions weekly were carried out only by 1.5 percent of downloaded wallets.
“The average number of eNaira transactions since its inception amounts to about 14,000 per week—only 1.5 percent of the number of wallets out there. This means that 98.5 percent of wallets, for any given week, have not been used even once,” the paper further reads.
“The average value of eNaira transactions has been 923 million naira per week—0.0018 percent of the average amount of M3 during this period. The average value per one transaction has been N60,000.”
READ ALSO: CBN Defers eNaira October 1 Launch, Gives Reason
It added that the eNaira’s potential in financial inclusion requires a “strategy to set the right relationship with mobile money, given the former’s potential to either complement or substitute the latter,” the institution said.
“Cost savings from integrating CBDC—as a bridge vehicle—in the remittance process may also be substantial.”
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News
Community Violations: TikTok Removes Over 3.6m Videos in Nigeria
Published
8 hours agoon
July 15, 2025By
Editor
TikTok on Tuesday said that it has removed over 3.6 million videos in Nigeria between January and March 2025 for violating its Community Guidelines.
It represented a 50 per cent increase from the previous quarter, according to TikTok’s Q1 2025 Community Guidelines Enforcement Report.
The report said that TikTok prioritised creating a safe, respectful, and trustworthy digital environment.
The report highlighted TikTok’s proactive approach, with a detection rate of 98.4 per cent for content removed before user reports and 92.1 per cent of videos removed within 24 hours.
READ ALSO:Most Followed Tiktoker Khaby Lame Deported From US Over Visa Violation
“Globally, TikTok removed over 211 million videos in Q1 2025, with more than 184 million removed through automation.
“The platform’s global proactive detection rate reached 99 per cent.
“TikTok has intensified its LIVE Monetisation Guidelines and prioritised LIVE content enforcement.”
According to the report in Nigeria, 42,196 LIVE rooms were banned, and 48,156 streams were interrupted for violating community guidelines.
READ ALSO:EFCC Arrests TikToker For Spraying, Stepping On Naira Notes In Kaduna
It said that the platform also removed 129 accounts in West Africa tied to covert operations in partnership with Cece Yara, a child-centred non-profit organisation.
The report said that TikTok is expanding in-app helpline resources to Nigeria.
This initiative provides young users with access to local helplines for expert support on issues like suicide, self-harm, hate, and harassment.
READ ALSO:Trump Gives TikTok Extra 75 Days To Find Buyer TikTok
The report also noted that TikTok Digital Well-being ambassador, Dr. Olawale Ogunlana, collaborated with experts to promote digital well-being.
It said that TikTok encouraged community participation through user reporting and education, advocating for a collaborative approach to creating a respectful online environment.
“The Q1 2025 report reflects TikTok’s efforts to safeguard its Nigerian user base, strengthen enforcement systems, and remain transparent about measures taken to uphold platform integrity.”
(NAN)

Former President Muhammadu Buhari was laid to rest on Tuesday evening in his Daura residence in Katsina State, following Islamic funeral rites attended by President Bola Tinubu, President Umaro Sissoco Embaló of Guinea-Bissau, Niger Republic Prime Minister Ali Lamine Zeine, family members, top government officials, and dignitaries.
His body was committed to Mother Earth at about 5:50 p.m.
Buhari had passed away on Sunday, July 13, in London at the age of 82, following a brief illness. His remains were received in Nigeria by President Bola Tinubu.
READ ALSO: Guinea-Bissau President, Niger Republic PM, Others Attend Buhari’s Burial In Daura
The body arrived in Daura at approximately 4:33 p.m. in a military ambulance. It was accompanied by President Tinubu, Vice President Kashim Shettima, Katsina State Governor Dikko Radda, National Security Adviser Nuhu Ribadu, businessman Aliko Dangote, former Vice President Yemi Osinbajo, and other dignitaries.
Here are things to know about late Buhari.
Muhammadu Buhari was born on December 17, 1942, to Adamu and Zulaiha Buhari in Daura, Katsina State. He belonged to the Fulani ethnic group and was a devout Muslim.
He joined the Nigerian Army and rose to the rank of Major General. Buhari became Nigeria’s military Head of State following a coup on December 31, 1983, and led the country until August 27, 1985.
READ ALSO:VIDEO/PHOTOS: Moment Buhari’s Remains Arrival In Nigeria
In 1994, Buhari was appointed Executive Chairman of the Petroleum Trust Fund (PTF) by the Sani Abacha administration, overseeing infrastructure projects funded by oil revenues.
After three failed attempts at the presidency, Buhari won the 2015 presidential election under the All Progressives Congress (APC), defeating incumbent President Goodluck Jonathan. He was re-elected in 2019.
He was married to Aisha Buhari and had several children. Known for his austere lifestyle, Buhari maintained a reserved and disciplined public persona throughout his life.
News
Guinea-Bissau President, Niger Republic PM, Others Attend Buhari’s Burial In Daura
Published
8 hours agoon
July 15, 2025By
Editor
President Bola Tinubu, President Umaro Sissoco Embaló of Guinea-Bissau, and Niger Republic Prime Minister Ali Lamine Zeine were among thousands of people who attended the funeral rites of the late former President Muhammadu Buhari on Tuesday in Daura, Katsina State.
The News Agency of Nigeria (NAN) reports that the remains of Buhari were conveyed to Nigeria by the Vice President, Kashim Shettima, and the Chief of Staff to the President, Femi Gbajabiamila.
NAN also reports that the remains were brought aboard a Nigerian Air Force flight -FGT 001, which touched ground at the Umaru Musa Yar’adua International Airport, around 2 p.m., on Tuesday.
The body was received by Tinubu, Gov. Dikko Radda of Katsina State, National Security Adviser Nuhu Ribadu, the Governors, and other dignitaries.
READ ALSO:North West Govs Declare Tuesday Public Holiday To Honour Buhari
After a farewell parade in honour of the late former Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, his remains were conveyed to Daura by road.
Imam Hassan Yusuf led the funeral prayer at 4 p.m. at the Daura Helipad.
Many dignitaries performed the prayer, notable among them were the former Nigerien President Mahamadou Issoufou and former Vice-President Atiku Abubakar.
Others were members of the National Assembly, including the Emir of Daura, Alhaji Umar Faruk-Umar, and the Emir of Katsina, Alhaji Abdulmumini Kabir-Usman, as well as the Emirs of Zazzau, Dutse, and Kazaure, among others.
READ ALSO:APC Secretariat Shuts For Three Days To Honour Late Buhari
Captains of industries, such as Alhaji Aliko Dangote and Alhaji Dahiru Barau Mangal, also attended the burial.
After the funeral prayer, the corpse was taken to his residence, where he was buried.
The funeral rites were attended by thousands of people who were earlier denied access to the venue but later allowed to enter.
Some of the people interviewed praised the virtues of the late former President, who was distinguished for his integrity, honesty, and discipline.
READ ALSO:FG Declares Public Holiday To Honour Buhari
Salisu Lawal stated that Buhari was a great man who loved being among his people and offering a helping hand to them.
Aliyu Nasiru, another resident, described the death of Buhari as a great loss not only to his immediate family but to the state and the country.
“The death has created a vacuum that is difficult to fill, he will continue to be remembered for his good virtues,” he said.
He prayed to the Almighty Allah to forgive his shortcomings, grant him Al-Jannah Firdaus.
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