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eNaira is digital equivalent of physical currency – CBN Official

By Gordi Udeajah, Umuahia
28 October 2021   |   3:45 pm
Members of the public have been advised to embrace the newly introduced eNaira which is said to be the digital equivalent of Nigeria's physical currency. The e-Naira was said to be introduced not only to preserve the nation's currency, but also to make business transaction less cumbersome. The Director of Corporate Communications of the Central…

Vice President Yemi Osinbajo (left); President Muhammadu Buhari (centre) and Central Bank Governor Godwin Emefiele during the launch of eNaira at the State House, Abuja. PHOTO: PHILIP OJISUA

Members of the public have been advised to embrace the newly introduced eNaira which is said to be the digital equivalent of Nigeria’s physical currency.

The e-Naira was said to be introduced not only to preserve the nation’s currency, but also to make business transaction less cumbersome.

The Director of Corporate Communications of the Central Bank of Nigeria ( CBN ) Mr Osita Nwanisio bexplained this Thursday in Umuahia, Abia state capital, during the take off of a two-day public sensitisation programme tagged CBN FAIR.

Nwanisio also urged the public to be wary of patronising unlicensed institutions and those who would ask them to deposit a certain amount of money and get huge percentage of it as interest in return after just few days of the transaction, stressing that any financial institution not duly licensed by the CBN, would be operating illegally and prone to duping people.

Also the Umuahia CBN Branch Controller Mr Onyeka Ogbu, who said that the CBN has since inception been introducing various interventions aimed at transforming the lives of the citizenry, added that it would continue to formulate policies that would grow the economy and continue to promote national economic stability.

Representative of the Development Finance Department of the CBN Umuahia Branch Mr Celsus Agla who spoke on CBN’s Development Finance Initiatives and how the public can benefit from them, said that to benefit therefrom, the aspiring beneficiary ought to have a bank account and BVN, a registered business including a National Identification Number (NIM ) among others.

According to him , the CBN has since 1977 been giving loans to enhance farmers productivity even as it is presently implementing another interventionist programme for graduates without jobs but possess entrepreneurial skills who would upon verification, be given loans ranging from N5m for single applicants to N25m for those in partnership.

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