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Losses caused by the eNaira are strictly at owner’s risk – CBN

eNaira discretion – The Central Bank of Nigeria has made a public note to Nigerians on the use of its latest rolled out CBDC, stressing that any risk encountered is at owner’s discretion.

Recall, the apex bank has just rolled out its digital currency in October as unveiled by President Muhammad Buhari.

The Central Bank Digital Currency is tagged eNaira, a digital form of the Nigerian naira with same value, however acclaimed to come with a number of benefits.

The apex bank in its report issued eNaira discretion, warning users that it will not be responsible for any loss, either arising from, or in connection with the use of the eNaira website.

This disclaimer was made following the sudden disappearance of the eNaira wallet from the Google Play Store, while there were reports that the speed wallet was taken down following complaints and bad reviews, sources close to the apex bank stated it was taken down to effect necessary updates.

CBN’s report on liability reads,

“In no event will the CBN or its directors, officers, employees, independent contractors, affiliates or agents, or any of its or their respective service providers, be liable to you or any third party for any use, interruption, delay or inability to use the eNaira website.

Lost revenues or profits, delays, interruption or loss of services, business or goodwill, loss or corruption of data, loss resulting from system or system service failure, malfunction or shutdown, failure to accurately transfer, read or transmit information, failure to update or provide correct information, system incompatibility or provision of incorrect compatibility information or breaches in system security, or for any consequential, incidental, direct, exemplary, special or punitive damages, whether arising out of or in connection with the use of the eNaira website.”

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