CBN, Bankers Committee partner on grassroots eNaira road show

AS part of efforts aimed at achieving massive eNaira adoption, the Central Bank of Nigeria (CBN) in collaboration with the Bankers Committee over the weekend conducted an eNaira road show at Balogun and Tejuosho markets in Lagos State.

The team, comprising CBN staff and representatives of some commercial banks, landed at Balogun market on Friday, June 24, 2022 and at Tejuosho market, Yaba on Saturday, June 25, 2022 all in Lagos.

The road show featured assisted downloads for market men and women, dance competition, eNaira branded gift items like power bank, cups, T-shirts and other electronic devices.

The team of experts on hand commended the traders for the interest they showed by massively downloading the eNaira apps.

However, they identified a mismatch in the date of birth used by some bank customers as one of the hitches experienced but was promptly attended to.

The highlight of the event was the arrival of Kunle Afolayan, a Nigerian actor, film producer and film director.

Detailing the usefulness of eNaira, Afolayan said that it has the full backing of the CBN and represents everything the paper Naira represents.

He urged participants to download the app on their smart phones, stressing that the eNaira wallet is required to access, use and hold the eNaira.

On the acceptability of eNaira, the movie star said, “eNaira is the way to go now, because a lot of people don’t want to move around with liquid cash. And it’s a very good platform for customers and buyers as well. It is mainly for people that are into business because sometimes even when you order stuff and the money doesn’t get delivered on time, eNaira will solve that problem by just a sharing of code between the buyer and the seller as well.

“All you need to do is just communicate with who you are transacting with.  And like I said, it’s a big world now.  A lot of people are dealing in cryptocurrencies and all that. So this is our own version of it. It is safer. It is the best; very easy to operate. It is like a one speed dial and all problems are solved,” he stated.

The eNaira would be made accessible only through uts wallets which is the digital storage that holds it.

Afolayan added that the eNaira is real and risk-free. He said the CBN has made the app easy to download for active users and has improved on its website so as to make e-Naira digital wallet feasible and easy for the youths to use in building enduring livelihood that would transform into socio-economic development of the nation

According to a detailed eNaira information from the CBN, charges for transactions that originate from the eNaira platform shall be free for the first 90 days commencing from October 25, 2021. However, it would revert to applicable charges as outlined in the Guide to Charges by Banks, Other Financial and Non-bank Financial Institutions.

For Tier 0, the daily transaction and balance speed wallet limits are N20,000.00 and N120,000.00, respectively. For Tier 1, daily transaction and balance speed wallet limits are N50,000.00 and N300,000.00, respectively.

For Tier 2 customers, daily transaction and balance speed wallet limits are N200,000.00 and N500,000.00, respectively. Finally, for Tier 3 customers, daily transaction and balance speed wallet limits are N1,000,000.00 and N5,000,000.00, respectively, while there isn’t any limit for merchants.

A major advantage that the e-Naira brings is deepening of financial inclusion. Hence, it would ease financial transactions and affect individuals, businesses, non-governmental organisations (NGOs), religious institutions, Nigerians in the Diaspora, MDAs, etc.

Industry data as at April, 2022 showed that downloads on the eNaira had grown to 756,000. The eNaira has seen 165,000 consumer wallets and 2,800 merchant wallets.

In terms of the top 10 Central Banks Digital Currency (CBDC), Nigeria’s eNaira emerged first in the global ranking of retail index with an index value of 95 per cent as well as first in African region.

The current statistics as at June 2022 is expected to be higher and more impressive given that the previous data were generated just three months after the launch of the eNaira in October, 2021.

ALSO READ FROM  NIGERIAN TRIBUNE

• I Made Mistake Picking My Number Two As Civilian President, Says Obasanjo
  
• Names Of Lawan, Akpabio, Umahi Missing As INEC Releases List Of Candidates For 2023 Polls
• How Ekweremadu, Wife Planned To Traffic Boy To UK To Harvest His Kidney For Ailing Daughter ― British Police
• Ògògó Taiwo Hassan Spotted Fighting With A Street Boy In His Hometown