• Tuesday, May 21, 2024
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E-naira initiative has come to stay, says CBN

How e-Naira can support cashless policy, curb corruption, boost revenue generation

The Central Bank of Nigeria (CBN), on Friday, urged Nigerians especially the business community to embrace the E-naira initiative because of the numerous benefits derivable from it.

According to the apex body, the E-naira which is all about digital money, has come to stay and there is no need for people to shake or panic on quality as it is operated on international standards.

Aminu Bizi, consultant with the CBN on E-naira, allayed the fears during a sensitization/elightenment of traders at Ogbeogonogo Market in Asaba, Delta State while describing the platform as effective and free of charges.

Why we come to this market is to sensitize traders before others in the state, adding that the CBN is out to ensure the initiative succeed.

He said that CBN in collaboration with Bizi Mobile consultants, are bringing the eNaira to every Nigeria: “Become an eNaira agent today and earn when customers open eNaira Wallets”, he said.

This was as he hinted that Automated Teller Machines (ATM) and Point of Sales (POS) have become analogue with the emergence of E-naira.

He explained that youths have a lot to do with E-naira platform. “If you do what you’re supposed to do, each person will get N200,000 per month.

The CBN has to empower the youths on how to make money as transaction is free. If you activate people, CBN will pay you, said her.

He stated that countries like Uganda had come to learn so as to replicate same initiative in their own country.

He noted that one of the reasons the initiative was introduced was to strengthen the naira in order to save the apex body from the huge amount of money spent on printing of naira notes and to stop the abuse of same.

Read also: CBN issues framework for open banking

“If all the onion seller, chemists, keke-napep, okada if they have eNAIRA, do you need to go to POS and cash money while ordinary Keke can receive 50 naira; before you get down you scan with the Keke scanner barcode and you pay him his hundred naira or fifty naira or what have you. So why should you go and queue to withdraw money?”, Vizio asked.

E-naira has come to stay and to put an end the abuse of naira notes.

Soon you will see that small notes will no longer be in circulation. You just need to pay digital money and collect your goods, he said.

Godwin Okafor, the Asaba CBN branch controller, who was represented by Bright Orji, the head of customer service, said people should consider the E-naira rather than Bitcoin.
“Unlike the Bitcoin, E-naira is still part of of CBN. The money will not disappear but with Bitcoin, the money can disappear any time”

Patrick Ukah, Secretary to the Delta State Government who was represented by Benson Ojoko, the director, finance and accounts office of the SSG, commended the apex body for the initiative, describing it as a welcome development.

“It is easy to use. Different ATM platforms belong to banks but E-naira wallet initiative is for everybody in Nigeria. Also, the issue of cashless economy has helped even market traders to transact without going to bank. That’s what digital money is all about.

Chris Anyabuine, the director, National Orientation Agency (NOA), Delta State assured that the agency would remain a partner to the CBN in ensuring the success of the e-wallet platform in the state.