In our first app review, Asssured takes a look at the e-Naira Speed Wallet App combined with reviews from the app store and social media.

What is eNaira?

The eNaira is a digital version of the paper currency issued by the Central Bank Of Nigeria. It is a digital currency based on blockchain technology but controlled by the Central Bank of Nigeria.

The eNaira wallet comes in two versions: one for individuals (Speed Wallet) and one for merchants (Merchant Wallet).

How does it Work?

e-Naira like every other central bank digital currency (CBDC) is essentially a digital banknote.

Individuals could use it to pay businesses, shops, or each other (a “retail CBDC”), or financial institutions could use it to settle trades in financial markets (a “wholesale CBDC”).

It ensures that transactions are safer, faster, and more convenient.

Userbase Analysis

The CBN governor, Emefiele, revealed that over 2.5 million individuals access the website every day and that another N200 million has been distributed to financial institutions. Over 2,000 people have been added to the platform, and 120 merchants have successfully registered.

Our Exploratory Testing Approach

We had our internal team conduct a manual test on the eNaira, and here is what they have to say


Our Analysis

Point 1: Poor Customer Education

It is very evident that CBN has not done enough customer education on what the value proposition of eNaira is and how it is different from the current payment options that the Nigerians currently enjoy.

A number of users on social media have expressed their confusion on the difference between eNaira and existing payment options in the country. Other users are confused as to why there are two different apps with the same icons. Some users have downloaded the merchant wallet rather than the speed wallet.

A twitter user makes a reference to his confusion over which wallet to download.

Point 2. Frustrated Users and bad reviews

We found various reviews and feedback on the Playstore and App Store before testing eNaira. The review as at the time of this report on Google Playstore was 2 out of 5. Things got worse as the Speed Wallet App was briefy removed from the playstore.

According to Osita Nwanisobi, CBN spokesperson, in an interview with The Cable, the removal was done to assist the apex bank in upgrading the app’s functionalities.

“There’s an upgrade going on, and I guess it’s all right now,” he explained.

Playstore Review

Rating – 2 star

Current download : 3k

Version- 1.0.0

Ok

Social Media Commentators
The news of the eNaira also went viral on social media platforms and here is what people are saying about it.

Final Verdict

During a roll out of a new app, it is important to ensure quality assurance and ensure the app is user friendly to ensure busers will keep returning to the app. As we can see, Enaira has a long way to go before it can be considered User Friendly and bug free.

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To get a full analysis on this, and the source of the information quoted, read here https://blog.asssured.com/2021/10/28/a-comprehensive-review-of-enaira-app-nigerias-digital-currency/

Nice work

Till now, no one has explained what e-naira is

It's not a crypto so there is no need for blockchain

Even CBN and OP are yet to understand what they rolled out

Something that will fail like every other thing