In line with the local content policy and the Federal Government mandate assigned to NeGSt to develop the eRevenue product offering for Nigeria, the company has worked assiduously to put innovative measures in place applying best-in-class electronic means aimed at not only insulating the precious Nigerian Naira from the vagaries of other foreign currencies but also to bank the unbanked population of Nigeria, encourage cross border trade between our neighbors as a means of ensuring financial inclusion and the stability of Nigeria's payment system as well as serving as an alternative electronic payment platform in support of the country's quest for financial independence. The idea is to deploy the electronic Naira which is not subject to forgery and whose traceability is assured. The eNaira will have a guaranteed intrinsic value, not by fiat or unhealthy appetite for imported goods and services, but through a well-orchestrated and highly intensive productivity and industrialization agenda across the entire country, powered by the citizen’s determination to achieve success through self-help and sustained application of know-how, national integrity and patriotism.
The diagram below is the overall design architecture of the Nigerian eGovernment Programme implementation plan as presented to the FGN in November, 2005.
The Implementation Plan as contained in the presentation made to government on 31st October 2005
The foundation members of the eNaira implementation team as contained in the business model of 27th May 2005 is as shown below: