e-Naira’ll end abuse, cost of printing Naira — CBN

By AdvocateNews on 22/05/2022

Share on facebook Yahoo mail icon Gmail icon

Views: 3,525


DIRECTOR of Central Bank of Nigeria, CBN in Asaba, Delta State, Mr Godwin Okafor has said the introduction of the e-Naira as a means of transaction in the country would put a stop to the abuse of the Naira and the cost of printing the currency notes.

Okafor who stated this during a sensitization programme for traders at the Ogbogonogo market in Asaba on the new e-Naira initiative said the e-Naira was not like the cryptocurrency as being speculated in some quarters.

Saying that it was a fully backed policy by the CBN in line with the International Standard Policy on a cashless society, he said, “the Naira has been in transformation, first it was traded by Barta, then cowry, then coin, then paper money and now we are transforming into e-naira.”

Secretary to the Delta State Government, SSG, Chief Patrick Ukah who also spoke at the ceremony, commended CBN for the e-Naira initiative, pointing out that it was an all-inclusive financial platform.

Represented by the Director of Finance, Office of the SSG, Benson Ojakor, Ukah said the fact that the e-Naira allows for an easy financial transaction without any attached charges would make it easy for it to be embraced by traders and all Deltans.

Explaining how the e-Naira works, the Consultant to the  CBN on e-Naira, Dr Aminu Amimu said there was nothing to fear about the e-Naira, adding that it was the initiative of the apex bank in the country.

He said all categories of individuals in the society can make use of the e-Naira platform as it allows for any kind of transaction no matter how little or how large the amount, noting that it was very easy to use.

He said, “some of the key advantages of the e-Naira are that  it is being introduced by the  CBN, which is the highest bank in the country, it is charges  free, it is 99.9 per cent sure without any form of failed transaction and it allows you to transact any amount even as low as ten Naira.”

He pointed out that it was necessary for market traders to first embrace the e-Naira before the general public, saying, “if the public accepts the e-Naira without the market traders accepting it, it will be difficult to use and the initiative will be defeated, this is why we are starting with the market traders.

“We are here today to sensitize the traders on the initiative as it has come to stay. We are going to move from shop to shop and from house to house to ensure that everybody embraces it. The POS and ATM are now analogue with the e-Naira in place.

Posted 22/05/2022 5:31:48 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

You may also like...
Ekiti university student stabs boyfriend to death over...

Tension in Ebonyi as Umahi seals off hotel...

Oyinlola asks INEC to declare Adeleke winner

Zamfara JTF Commander shot dead by bandits

NGOs deploy 1000 Volunteers to monitor COVID-19 palliatives...

Court remands priest over alleged culpable homicide

What I will do to EFCC when I...

Ihedioha to probe Ohakim, Okorocha on land allocations...

No going back on Igbo Presidency, Ohanaeze tells...

38-year-old Nigerian jailed in America for cyber fraud,...

Eid Maulud: Kidnappings, forced marriage against Islamic injunctions...

DSS declares Sunday Igboho wanted, confirms gunning down...

 

Latest News EFCC arrests 12 bankers in Enugu over fraud Dangote workers shot as armed Kogi Vigilantes invade Obajana cement plant Nnamdi Kanu petitions Buhari to release him immediately Peter Obi: Igbo should be president — Falae BREAKING: Obi beats Tinubu, Atiku by 51% votes in new poll ahead 2023   Peter Obi: Arrest, prosecute Mahdi Shehu, Ohanaeze tells FG 2023: Obasanjo may support Peter Obi Edeoga: Can a pact breaker keep campaign promises? Over 13,000 APC members defect to PDP in Kaduna Umahi denies ordering police to teargas, attack Peter Obi’s supporters in Ebonyi 2023: North will vote massively for Peter Obi — Prophet El-Buba Senator Ubah: How I narrowly escaped assassins’ bullets

 

Most Read I’ve no Coronavirus, govt wants to kill me – Anambra Index case (514,626 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (514,622 views) Ebonyi bans embalming of corpses in homes (514,621 views) Sickle cell support group seeks government intervention (514,620 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (514,619 views) Fleeing ex-DG Imo Broadcasting Corporation who stabbed wife to death arrested (514,619 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (514,618 views) FG sends new directive to banks, schools as Buhari extends lockdown by four weeks (514,617 views) ASUU strike: Senate intervention ends in deadlock (514,616 views) HUSHPUPPI: CRIMINALS HAVE NO TRIBE. THEY SHAME ALL OF US... (505,715 views) DEMOCRACY DAY: President Muhammadu Buhari’s full speech (440,825 views) All you need to know about Peter Obi, PDP VP Candidate (438,790 views)

 

 

SECTIONS FAITH (159) EDITORIAL (25) NEWS (9,923) POLITICS (524) SOCIETY (135) SPORTS (67) BUSINESS (381) HEALTH (63) EDUCATION (53) ENTERTAINMENT (65) INTERNATIONAL (232) TECHNOLOGY (8) COLUMNISTS (57) LETTERS (4) OPINION (47)

 

 


There are no video entries posted yet.