The Central Bank of Nigeria has begun a sensitization tour across the country to enlighten businesses and businesspeople about the multiple advantages of the eNaira wallet, urging residents to support the programme.
Officials from the bank, in collaboration with other banks and some Nollywood stars, educated traders and residents of Ondo state about the importance of using a cashless platform for transactions, assuring them that the introduction of the eNaira wallet would address the scarcity of cash and the challenges that Nigerians face.
Mrs Mary Fasheitan, Special Assistant to the CBN Governor, led the CBN team to the Akure market, where they emphasised the need to embrace the cashless platform for transactions.
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Seamless transactions without charge
Fasheitan explained that it is a good opportunity to key into the initiative, which is seamless and can be done anywhere, adding that the platform could be used for all economic transactions without any charge.
Nollywood actor, Gabriel Afolayan, added that the platform would is of great value to Nigerian currency beyond the physical one, describing it as a brighter initiative that would enable Nigerian residents to move around without being scared.
He therefore urged Nigerians to embrace it and use it, saying it was the next level to seamless transactions.
Other e-naira users at the event described the initiative as laudable, saying it enabled them to save more. They explained how they had criticised the initiative in the beginning but later realised its benefits over cash.
They asked the major players in the sector to strengthen banking internet for users to enjoy the benefits of the platform.
The CBN team also visited the Deji of Akure, Oba Aladetoyinbo Aladelusi, on the usage of the digital currency in the state.
The Acting Branch Manager of CBN in Akure, Mr Samuel Giwa, 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, adding that it 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.
“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,” he stated.
The acting branch manager said as a people-focused central bank, the regulatory bank understood the current challenges associated with the implementation of the currency redesign policy, and the CBN was currently making efforts to address them.
“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,” he said.
Giwa implored all to be advocates of the eNaira and encourage others to explore the possibilities of the new digital currency.
Giwa thanked the king and his council for providing an atmosphere for the bank to educate and sensitise traders and people of the state to the cashless policy.
Mr Victory Otoba, who represented the Deposit Monetary Banks ( DMB) in the state, explained that digital payments would reduce the risk of theft and loss and as well make it easier to track and monitor transactions.
Otoba said that with the platform, individuals and businesses could access financial services even if they did not have a traditional bank account.
In his response, Oba Aladelusi applauded all the alternative means of economic transactions introduced by the CBN. The traditional ruler asked CBN and deposit banks to ensure that there was reliable and efficient infrastructure to make the policy endeared to Nigerians and hitch-free.
