Nigeria’s Central Bank Partners with Gluwa Nigeria to Enhance eNaira Infrastructure and Promote Its Adoption


The nation still uses cash, so the adoption of the digital currency issued by the central bank is insignificant.

  • The goal of integrating Gluwa’s Credal blockchain API technology with the eNaira is the Central Bank of Nigeria.
  • Local fintech lenders will benefit from simpler loan origination, tracking, settlement, and scoring thanks to this arrangement.

Stay in the know on crypto by frequently visiting Crypto News Today

The Central Bank of Nigeria is collaborating with Gluwa Nigeria, a blockchain technology company, to improve the eNaira digital currency’s systems and increase its uptake in the nation of over 226 million people.

Application programming interfaces (APIs) for Gluwa’s Credal blockchain technology will be provided by the central bank. Software middlemen known as APIs facilitate communication between apps.


According to a statement by Gluwa, the “primary goal is to leverage blockchain technology to promote financial innovation, eNaira functionality, and financial inclusion.”

For local fintech lenders, connecting through Credal is meant to facilitate loan origination, tracking, settlement, and credit scoring.

CryptoCaster Quick Check:

Since its introduction in 2021, Nigeria has worked to increase the central bank digital currency’s (CBDC) level of acceptance. In the first four months of last year, the value of transactions surged 63% to 22 billion naira ($14 million), and the number of eNaira wallets increased more than 12-fold to 13 million between October 2022 and March 2023.

The $220 billion informal economy in the nation depends heavily on cash, and eNaira adoption has not kept up with cash use in the most populous country in Africa, partly because there aren’t enough merchants accepting the currency.CRYPTOCASTER® - DECENTRALIZED FREEDOM!

We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism. 

From  Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.

And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.

When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble. 

Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.

We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


You may also like