October 28, (THEWILL) – The Central Bank of Nigeria (CBN) says the eNaira speed wallet app is currently undergoing an upgrade.
eNaira is a digital currency issued by the CBN. It is a digital form of the naira that is housed in a secured wallet called the eNaira wallet.
The digital currency has two applications: eNaira speed wallet and eNaira merchant wallet. To access the eNaira, users have to download the speed wallet, which allows users to conduct transactions with speed and ease.
Aside from the Google Play Store, the wallet can also be downloaded from the Apple Store..
However, the speed wallet app, within 24 hours of its launch, had over 100 complaints from users not being able to complete the registration process on the app. Some users complained that the app did not send them a confirmation email. One of the users stated that he waited for over 45 minutes for the confirmation link.
Furthermore, the app became unavailable on the Google Play Store on Wednesday. According to the CBN spokesperson, Osita Nwanisobi, the development was to upgrade the app.
“There is an upgrade going at the moment by Google; try in the next few hours”, he said, when asked to explain why the app could not be found on the play store.
Meanwhile, the CBN has warned users that it will not be held liable for any loss, whether arising from or in connection with the use of the eNaira website.
In a ‘limitation of liability’ statement displayed on the eNaira website (www.enaira.gov.ng), the CBN stated that: “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, indirect, exemplary, special or punitive damages, whether arising out of or in connection with the use of the eNaira website.”
It further warned that the CBN would not be held liable for errors made on the site.
“The materials appearing on eNaira’s Website may include technical, typographical, or photographic errors. CBN will not promise that any of the materials in this Website are accurate, complete, or current. CBN may update the materials contained on the eNaira website at any time without notice and make no commitment to update the materials.”
Speaking on the disclaimer, a Lagos-based lawyer, Inibehe Effiong, said the CBN’s attempt to shift liability is illegal.
Effiong said, “The limitation of liability clause is obnoxious and unnecessarily draconian. The manner in which it is drafted is suggestive of the fact that the CBN has no confidence in the durability, credibility and reliability of the eNaira website.
“If commercial banks are to be held liable for losses incurred by their customers, there’s no reason the CBN should be accorded absolute exemption from liability.
“Part of the problem with the eNaira is that the role of the CBN is conflicted. The CBN is established primarily as a regulatory agency with limited allowance for commercial particularly governmental and intergovernmental transactions.
“Since the eNaira is a product of the CBN and not essentially controlled by commercial institutions, the CBN should bear some form of responsibility for the use of the eNaira platform.”
