Extending the Technology Acceptance Model for Acceptance of eNaira by Microenterprises in Jigawa State, Nigeria

Abstract

The introduction of central bank digital currencies (CBDCs) represents a significant shift in national payment systems aimed at improving efficiency, security, and financial inclusion. In Nigeria, the Central Bank of Nigeria launched the eNaira as a sovereign digital currency; however, adoption among microenterprises remains limited. This study extends the Technology Acceptance Model (TAM) by incorporating perceived trust to examine factors influencing eNaira acceptance among microenterprises in Jigawa State, Nigeria. Data were collected from 368 microenterprise owners and analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings reveal that perceived usefulness, perceived ease of use, and perceived trust have significant positive effects on behavioural intention to adopt the eNaira. The results confirm the applicability of TAM in the CBDC context and highlight trust as a critical institutional factor in digital financial adoption.