• Business - Economy
  • Updated: March 26, 2023

Usage Of eNaira Wallet Will Address Cash Scarcity, Says CBN

Mary Fasheitan, the Special Assistant on Payment to the Governor of the Central Bank, has said that usage of the digital naira called eNaira currency will address the scarcity of cash in the country.

Fasheitan made the assertion while sensitising traders and people of the state in Akure on the need to embrace the cashless platform for transactions.

She said that CBN, in collaboration with the Bankers Committee in the state, organised the sensitisation for people to understand all the benefits that e-naira brought to the banking system.

According to her, it is a good opportunity to key into the initiative, saying it is seamless and can be done anywhere.

The explainer  that the platform can be used for all economic transactions without any charge.

Speaking, a Nollywood actor, Gabriel Afolayan, said that the platform would add value to Nigerian currency beyond the physical one.

Afolayan described the platform as a brighter initiative that would enable Nigerian residents to move around without being scared.

Afolayan enjoined Nigerians to embrace it and use it, saying it is a next level to seamless transactions.

One of the users of the e-naira wallet, Kenneth Batusi, described it as laudable, saying it enabled him to save more and that money transfer is easier on the platform.

Batusi, however, urged the major players in the sector to strengthen banking internet for users to enjoy the benefits of the platform.

eNaira is a Central bank digital currency issued and regulated by the Central Bank of Nigeria.

Denominated in naira, the eNaira serves as both a medium of exchange and a store of value and claims to offer better payment prospects in retail transactions when compared to cash.

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Felicia Abisola  Olamiji
Felicia Abisola Olamiji

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