To Combat Fake Alerts, the CBN is Urging Nigerians to Embrace e-Naira.

Social Media Plug-ins:

Central Bank of Nigeria (CBN) has charged the banking public to key into its e-Naira platform to avoid fake mobile money transfers.

Mr Godfrey Boyor, Lagos branch Controller, stated this during the e-Naira Sensitisation for traders, bureaux de change, socio-cultural groups, and other stakeholders, organised in collaboration with Bizi Mobile Cashless Consultant Limited in Lagos.

He said that the e-Naira is designed with the best security and monitoring procedure that mitigate against fraud. So there will be no fraudulent transfer; no fraudulent alert. Nobody can deceive you with e-Naira transaction. It is fool proof.”

Boyor explained that the apex bank used the Oshodi Market because of its unique nature, strategic location, size, diversity and heterogeneity. “We believe from here, we can reach the whole of Lagos and by extension, the whole of Nigeria. And the whole world at large,” he stated.

Urging Nigerians to onboard the digital currency platform, he added: “We encourage you to actively participate in the e-Naira campaign. Tell your friends , tell your customers , download the e- Naira application, install it in your handsets, fund the e-Naira Wallet, use it and enjoy it and let me assure you of the backing of CBN, which is 100 per cent guaranteed. We don’t go for what is not good. If there is any issue arising, we assure you, we will do our best to make sure no innocent person suffers a dime loss.

“The e-Naira was launched by President Muhammadu Buhari. It was the first to be launched in the whole of Africa and among the earliest in the whole world. The e-Naira is also called the Giant Naira and the wallet is often referred to as the speed wallet.

“Why are we canvassing for the e-Naira? Like I said, it is designed for you; to suit you.Now there is enough room for every one of us to enjoy very reliable, efficient banking services.The process is very easy and simple for anyone to be able to benefit and enjoy. We are working on this more and more. The e-Naira is also 100 per cent local and it is 100 per cent global. It is made in Nigeria for Nigerians and it can interface with any applications and any banking system all over the world, both for individual transactions as well as for corporates.” As for its features, he explained: “The e-Naira is very fast for transactions and also for Diaspora remittances. If you want to receive money from abroad, e-Naira is there for you; very cheap, direct.It also helps government to reach the people too and it helps us to make local payments. As we said, we are giving assurance that it is very secure, so secure.For business, the e-Naira is very good for us and it is easy to help you make your sales. You can easily make your sales through the e-Naira and get the payment. The issue of receiving money with fake currency , that is, they buy money from you and the money is counterfeit, that will not be there. With the e-Naira, there is no counterfeit, your money is intact, marks one to one, what is in your pocket, what is in your bank account, then you can do any transaction . And you wont run out of cash. The issue of I don’t have money , I want to buy something or I don’t have change, all those issues will be eliminated.

“It is also good for government too to transact financial services and to interface with the people, even people that are in remote places. These days that many people have phones, no matter the type of phone you have, you will be able to download and use the e-Naira and get money and access it anywhere. No situation where they say the transaction did not go through. Once your transaction is gone from your own end, it reaches the other person at the same time. Those that suffer financial exclusion, this is an opportunity for you. E-Naira is there to include everybody. You don’t have to have million before you can open e-Naira wallet. With N100; N200, you can get a wallet.”

In his address, Dr Aminu Bizi, managing director of Bizi Mobile Cashless Consultant Limited, said e-Naira would soon take over Points of Sale (PoS) business in the country, adding that there is a lot of opportunities that the CBN gave for people to make money out of the e-Naira. “Today, you can be a merchant, a merchant aggregator to CBN. Push the product and see them with figure.And you make money from every e-Naira wallet that you open.”

Chief Obinna Umeh, secretary of one of the market associations in Kairo Market Oshodi, said one of the problems confronting the traders on daily basis is fake alert and transferring money without getting alert and not releasing goods Or carrying goods with fake alert.

“I was happy when the CBN said they would sensitise us about the e-Naira.It is a way to eliminate fraud and fake transfer in the market.”