Why We Introduced e-naira —CBN

The Central Bank of Nigeria, CBN, weekend, explained that the e-naira was introduced to reduce the physical cash in transactions and promote the adoption of digital payments.

The Acting Branch Manager of the bank, Mr. Samuel Giwa, said this at the palace of the Deji of Akureland, Oba Aladetoyinbo Adedelusi, during advocacy on the usage of e-Naira platform, a digital currency.

According to him, the new digital currency called e-Naira will improve the way Nigerians conduct transactions.

Giwa said: “The policy would increase financial inclusion, reduce corruption and money laundering, and improve the efficiency of the financial system.

“The e-Naira 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, more efficient and more secure.

“The e-Naira 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 general to download the e naira

Speed Wallet for easy payment for goods and services, as well as have convenient access to banking services.”

He, however, urged Nigerians to be advocates of the eNaira and encourage others to explore possibilities of the new digital currency.

Responding, the Akure monarch commended all the alternative means of economic transactions introduced by the CBN.