E-naira’ll reduce naira scarcity – CBN

Alade Abayomi ADeleke
Alade Abayomi ADeleke

The Special Assistant on Payment to the Governor of the Central Bank, Mary Fasheitan, has said that the usage of the digital naira (eNaira), will address the current cash scarcity in the country.


The News Agency of Nigeria reported that Fasheitan said this while addressing traders and people of the state in Akure on the need to embrace the cashless platform for transactions, as she explained that CBN, in collaboration with the Bankers Committee in the state, organised the sensitisation for people to understand all the benefits that e-naira brought to the banking system.


According to her, it is a good opportunity to key into the initiative, as it’s seamless and can be done anywhere, because the platform could be used for all economic transactions without any charge.


Earlier, the CBN team lead by the acting branch manager of CBN in Akure, Samuel Giwa, had visited the deji of Akure, Aladetoyinbo Aladelusi, on usage of the digital currency in the state.


He told the traditional ruler that the policy was an initiative spearheaded by the CBN which aimed to reduce the physical cash in transactions and promote the adoption of digital payments.


Mr Giwa added that the policy, which was introduced in 2022, would increase financial inclusion, reduce corruption and money laundering, and improve the efficiency of the financial system.


According to him, the new digital currency will improve the way Nigerians conduct transactions.


He said, “The eNaira is not just a currency, but an important step towards building a more robust and secure financial ecosystem.


“It was designed to make transactions easier, efficient, and more secure.


“The eNaira has indeed become a critical part of the Nigerian financial ecosystem, and an alternate channel.


“It will not only support the Ondo State economy, but Nigeria as a whole; a symbol of progress and innovation and will pave the way for a more secure and efficient financial system.


“However, to provide succour, we urge the people of Akure and Ondo State in general, to download the e naira Speed Wallet for easy payment for goods and services, as well as have convenient access to banking services.”

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