eNaira App: CBN sensitize her publics usage, others

The Central Bank of Nigeria (CBN) on Thursday commenced a two-day public sensitization on its newly launched digital currency, popularly known as eNaira and other initiatives in Abia.

CBN Director of Corporate Communications, Osita Nwanusobi said the sensitization fair was to engage the public and enlighten them on the eNaira and other monetary policies of the apex bank.

The programme which was jointly held virtually in Abia and Ebonyi had participants across different sectors of the economy.

He further made known that the programme was to create awareness on various interventions of the CBN and how the people could access them.

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Another representative of the eNaira project, Abul-JalilYusuf  in his presentation said the digital currency would promote the payment system.

He said that the CBN digital currency would improve financial inclusion, increase remittance and ensure a more effective monetary policy.

According to him, it will eliminate third parties, thereby contributing to efficient and low-cost transactions, among others.

Yusuf explained that eNaira was different from cryptocurrency, being a legal tender and a liability of the CBN, unlike cryptocurrency which is a private business that can not be relied on.

He said that with the launch of the eNaira on Oct. 25, Nigeria became the first country in Africa and one of the seven countries in the world to have done so.

Earlier, Onyeka Ogbu, CBN Branch Controller, Umuahia, and his counterpart in Ebonyi, Mr Christopher Adayi, in their separate remarks, said the participation of the South-East in CBN initiatives had remained low.

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