No coin or asset in the world has zero volatility. It is pegged to naira price and naira does not have zero volatility. Although what you mean is understandable as it is compared with bitcoin and other cryptocurrencies which are far more volatile.

Emiefele which was the former CBN govern is the reason. Yes, it is true that the man is hostile to cryptocurrencies and at the same time, push for eNaira. The youths did not like that and avoid eNaira, but that is not just only the reason.

ENaira speed wallet was full of bugs when it was launched. That also discouraged people.

Also Opay, Palmpay, Kudo and other means people make free transactions is already existing. People even see Opay to be very reliable. You can make 3 transactions on Opay and Palmpay daily with zero transaction fee while 25 transactions are free on Kuda monthly. ENaira speed wallet has charges.

At the start, if you want to use it, you have to connect with you commerical bank to fund the wallet, that alone can discourage people by saying you will still send money from your bank to it. So while using it.

As the CBN was hostile to cryptocurrencies and banned it, people do all means possible to avoid CBN and yes definitely they avoid their CBDC.