Cashless policy: CBN urges Nigerians to embrace e-naira transactions

The Central Bank of Nigeria (CBN) on Thursday called on Nigerians to embrace the nation’s digital payment channel (eNaira) to enhance its cashless policy.

The apex bank’s Port Harcourt Branch Controller, Maxwell Okoroafor, made the call at a sensitisation workshop in Port Harcourt.

The workshop, jointly organized by CBN and Zenith Bank, was themed: “Road Map to eNaira Adoption: Understanding the Workability of the E-Naira and its Implications on the Cashless policy.”

Okoroafor said the workshop was aimed at providing important information about eNaira for students and lecturers of University of Port Harcourt (UNIPORT) and Ignatius Ajuru University of Education (IAUE).

“The eNaira is an alternative means of financial transaction to cash and is designed to make transactions stress-free as well as improve the nation’s economy.

“It is cheap and comes with a lot of benefits to Nigerians in tackling financial crime, money laundering and also gives visibility for monetary policies in the country.

“It will also be beneficial to the institutions in the area of payment of fees while also helping them to reduce the cost of policy management,” he said.

Okoroafor said the CBN Crypto currency had the same value as the physical naira in the pockets and wallets of Nigerians.

“The whole world is going digital, hence the CBN is also responding to the innovation by introducing a lot of cashless policies – of which one of the policies is the eNaira.

“Incidentally, we are the first Central Bank in Africa to introduce eNaira, and only the second in the world,” he added.

On his part, the apex bank’s Head of Information and Clients Services, Collins Onuosa, said the CBN targeted students because they were more in tune with emerging technology.

According to him, the CBN has engaged organisations, groups, institutions and students to ensure that everyone is brought on-board the eNaira and other digital payment platforms.

Speaking, the Vice Chancellors of UNIPORT, Prof. Owunari Georgewill and his IAUE counterpart, Prof. Okey Onuchukwu, said both universities were open to working with the apex bank to drive its policies in both universities.