eNaira, the digital currency of the Central Bank of Nigeria, CBN has seven major benefits for Nigerians and the country’s economy.
The e-Naira is Africa’s first Central Bank Digital Currency, CBDC, introduced by the CBN last year to fast track electronic payment and financial inclusion.
The seven major benefits of the eNaira, according to Osita Nwanisobi, includes improved diaspora remittances and reduction in the cost of transactions.
He stated this while enjoining participants at the ongoing Lagos International Trade Fair, LITF to join over one million Nigerians who have onbord to to eNaira.
Other Benefits
Highlighting other benefits of the eNaira, Nwanisobi 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 not limited to, increasing revenue and tax collection.
“Highlighting the rationale and achievements of the e-Naira so far, the CBN Director stated that: “The world is fast-moving to a digitised economy and Nigeria cannot be found lagging. Hence, the introduction of the Central Bank Digital Currency, the eNaira, the first of its kind in Africa and ranked amongst the best in the world.
eNaira Achievements
“While the CBN will continue to refine, fine-tune and Upgrade the platform with additional functionalities in the near term, the eNaira 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 eNaira platform across the country.
“I enjoin you to be part of history by downloading your eNaira Speed Wallet and getting onboarded today if you.”
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