CBN sensitises Asaba traders on e-Naira initiative

May 25, 2022

The Central Bank of Nigeria (CBN), has taken the sensitisation on the e-Naira initiative to the Ogbogonogo market in Asaba, Delta State.

Traders in onions, sachet water, pepper, fish and meat sellers, among other commodities, were informed of the need to open the e-Naira account as a way of promoting financial inclusion and cash-less economy.

Speaking at the sensitisation exercise, Chief Executive Officer of Bizi Mobile Cashless Consultants Limited, Dr. Aminu Aminu explained that traders of all categories would continue to be educated on how to use the e-Naira account to do transactions.

Aminu, a consultant with CBN on e-Naira, stated that the digital platform of transaction is fast, accessible, free and safe with over 99.9 per cent success rate, adding that e-Naira had come to stay.

He assured that “very soon, you may not be seeing N5, N10 or N20 notes in circulation because CBN is using money to print these notes and at the end of the day this N5, N10, N20 will be abused.

“Go and see the woman selling corn, fish, they are squeezing these notes, at the end of the day, CBN is losing to reprint more notes to replace the mutilated ones,” he said.

The chief executive officer assured that the e-Naira account cannot be hacked by fraudsters.

Secretary to the Delta State Government (SSG), Patrick Ukah, who was represented by the Director of Finance and Account in the office, Benson Ojoko, lauded the apex bank for the initiative to further reduce the volume of physical cash in circulation.

Branch controller of CBN in Asaba, Mr. Godwin Okafor, who was also represented by the Head of Customer Service, Bright Orji, said the apex bank was committed to promoting digital transactions to reduce the risk involved in carrying cash.

Some of the traders who spoke on the initiative commended CBN for the steps being taken to reduce the burden of carrying cash in transactions even as others wanted the apex bank to increase their campaign strategies for a better result.

Meanwhile, the CBN has clarified that there were no plans to replace the naira notes in circulation with digital currency (e-Naira) as is being speculated.

According to the bank’s Director, Corporate Communications Department, Mr Osita Nwanisobi, the general public should disregard the statement that the bank was planning to withdraw N5, N10 and N20 notes.

IN CASE YOU MISSED THESE FROM NIGERIAN TRIBUNE