Market News

BY  Omon-Julius Onabu

The Central Bank of Nigeria (CBN) has urged Nigerians, and the business community in particular, to embrace its e-Naira initiative because of its numerous benefits including acting as foolproof against fraudulent transactions.

Asaba CBN Branch Controller, Mr Goodwin Okafor, who was represented by Bright Orji, Head of Customer Service, stated this at a sensitization/elightenment for traders at Ogbeogonogo Market in Asaba, Delta State, describing the digital platform as effective as it was accessible, flexible and free of hidden charges.

He said that people should consider the e-Naira rather than Bitcoin, “Unlike the Bitcoin, e-Naira is still part of of CBN. The money will not disappear but with Bitcoin, the money can disappear any time.” 

He said the people have nothing to fear about digital financial platform as it is operated on international standards and so have come to stay, adding that eNaira will greatly promote financial inclusiveness.

Consultant with the CBN on e-Naira, Aminu Bizi expatiated on the benefits of the financial initiative and urged the people and especially the business community to embrace the e-Naira.

“Why we’ve come to this market is to sensitize traders before others in the state, “he said, adding that the CBN was out to ensure the initiative succeeded.

He said that CBN in collaboration with Bizi Mobile consultants are bringing the eNaira to every Nigerian.

“Become an e-Naira agent today and earn when customers open e-Naira Wallets, “he said, even as he hinted that ATM and POS have become analogous with the emergence of e-Naira.

He noted that Nigeria played pioneering role in electronic banking in Africa, noting that countries like Uganda had come to learn so as to replicate same initiative in their own country. 

He explained that even traders in fish, yams, onions, tomatoes, sachet water, pepper and other commodities would be educated on how to use the e-Naira account for their daily business and transaction.

Bizi listed that the digital financial platform for transaction has numerous advantages including speedy and flexible processing, accessibly, safety and free-of-charge services once there was network with over 99.9% success rate.

Bizi said, “The e-Naira has come to stay. Why do you need cash if the onion seller, akara seller, chemist man or Keke/Okada operator have e-Naira account.

“Do you need to go to POS and cash money while ordinary Keke (tricycle) man can receive N50 via transfer? We are planning to meet with the union of Keke operators to sensitise them and give them a bar code. You have your e-Naira, before you even get down, you scan the Keke scanner bar code and you pay him his fare of N50 or N100.”

Secretary to the Delta State Government, Patrick Ukah, who was represented by the Director of Finance and Accounts in the office, Benson Ojoko, commended the CBN initiative, saying it would greatly reduce the volume of physical cash in circulation. 

Director, National Orientation Agency (NOA), Delta State, Chris Anyabuine, assured that the agency would remain a partner to the CBN in ensuring the success of the e-wallet platform in the state.