At the Lagos Trade Fair, the Central Bank of Nigeria would encourage Nigerians to use the e-Naira.
The Director of the Apex Bank’s Corporate Communications Department, Mr. Osita Nwanisobi, stated that Nigeria cannot be considered to be trailing in the world’s fast-moving transition to a digitized economy during the “CBN Special Day” at the LITF. As a result, the Central Bank of Nigeria launched the e-Naira, the first digital currency of its sort in Africa and one of the best in the world.
He added, “While the CBN will continue to refine, fine-tune and upgrade the platform with additional functionalities in the near term, the e-Naira has recorded over 700,000 transactions worth about N8 billion within its first year (October 2022).
“Thirty-three banks have been fully integrated and live on the platform. In addition to the foregoing, over 1.0 million customers have been onboarded while over 3,305 merchants have successfully registered on the e-Naira platform across the country. I enjoin you to be part of history by downloading your e-Naira Speed Wallet and getting on-boarded today if you have not.”
Highlighting the benefits of the e-Naira, Nwanisobi, who was represented by Mr. Sam Okogbue, a top executive in the department said, “The payment platform, with the slogan ‘same Naira, more possibilities,’ aims at enhancing financial inclusion: supporting Nigeria’s strong, stable, and resilient payment ecosystem; reducing the cost of processing cash and enabling direct and transparent welfare intervention to citizens.
“Other benefits derivable from the policy include, but are not limited to, increasing revenue and tax collection; facilitating diaspora remittances and reducing the cost of transaction as well as improving the efficiency of payments.”