About the rail
cNGN, in plain language
cNGN is a regulated Nigerian stablecoin, pegged 1:1 to the naira and issued by WrappedCBDC Ltd. AI HUB Pay is payment software that can collect and redeem through the cNGN API. It is not cNGN, not a bank, and not a custodian of those reserves.
What it is
A naira-backed stablecoin on public blockchains. One token is meant to match one naira of reserves.
Who issues it
WrappedCBDC Ltd. AI HUB Pay does not mint cNGN, does not hold the reserve, and is not the issuer.
How it is supervised
cNGN says it operates under the SEC Nigeria Accelerated Regulatory Incubation Programme, within the Investments and Securities Act 2025.
Not the eNaira
The eNaira is a central-bank digital currency issued by the Central Bank of Nigeria. cNGN is privately issued. The two are not the same product and are not affiliated. Reserves for cNGN are naira held with commercial banks, with monthly independent attestations published by the issuer.
| cNGN | eNaira | |
|---|---|---|
| Issuer | WrappedCBDC Ltd | Central Bank of Nigeria |
| Form | Reserve-backed token on public chains | Sovereign digital cash |
| Peg | 1 cNGN to 1 naira of reserves | Direct central-bank liability |
What AI HUB Pay does with it
- 1. Collect. A checkout can ask cNGN for a temporary virtual account. The customer pays that Nigerian account. Minimum documented amount is ₦100.
- 2. Wait. A deposit.received notice does not credit the merchant. Pending is not paid.
- 3. Confirm. deposit.completed is only a signal. The ledger credits after Get Transaction succeeds for that reference, once.
- 4. Book. The merchant’s balance is a liability on our ledger, not an on-chain wallet and not the platform’s cNGN balance.
- 5. Redeem. A different person must approve a payout. Real redemptions call Redeem Asset only after the business is verified, and the hold closes when the redemption webhook is checked.
Without a server-side cNGN key, encryption key, and Ed25519 private key, this deployment does not call the API and does not invent balances or account numbers. A Paystack secret cannot stand in for those credentials.
Published contracts
Copied from the cNGN contract-address guide for reference. API network IDs are different, change by environment, and are never hard-coded here. Listing a contract does not mean withdrawals are enabled.
Bantu · Stellar-based
GD6G2NT7CQHPIYHA52KZHWB6ONNWTSGZOOLTRLRASENM2VWSF6CHYFRX
Asset Chain · EVM
0x7923C0f6FA3d1BA6EAFCAedAaD93e737Fd22FC4F
BNB Chain · EVM
0xa8AEA66B361a8d53e8865c62D142167Af28Af058
Ethereum · EVM
0x17CDB2a01e7a34CbB3DD4b83260B05d0274C8dab
Polygon · EVM
0x52828daa48C1a9A06F37500882b42daf0bE04C3B
Base · EVM
0x46C85152bFe9f96829aA94755D9f915F9B10EF5F
Solana · SPL
3jiqwBQVRC5zRwHyqvnkQurebJ5RNxg3F5fXMwaxgkv8
Celo · EVM
0xF6829D7393dAe24509eb1E52eE8e572e2E271a4f
Monad · EVM
0x567BB1CA4748cD316F25fa502E77362A632771eE
Arc · EVM
0x5d1C90779f9de46B65cF368caa1f36B39E5F2614
ADI · EVM
0x502e4244b1265Da71Ced46a749060894dD7264E3
STELLAR · Stellar
GCDDBNX6SIZSQPJ6V6C2J4QV5ZF5M4APYHVPWY5HGL6333REPJ6B6LKY
Issuer facts are from cngn.co and docs.cngn.co. Reserve reports live on cngn.co/transparency. Merchant API · Help