CBN urges Nigerians to embrace eNaira like physical Naira

The Central Bank Of Nigeria, CBN, has urged Nigerians to embrace eNaira just like the physical Naira inorder to increase transparency in revenue and tax collections.

CBN claims that e-Naira is expected to facilitate diaspora remittances, support a resilient payment ecosystem, reduce the cost of processing cash, enable direct and transparent welfare intervention to citizens.

We believe that the continued provision of access to finance to various sectors of the economy will promote inclusive growth and sustainable development.

Also, CBN has established the Creative Industry Financing Initiative,CIFI, to provide access to finance for youth in the fashion, music, information technology and movie production verticals.

According to CBN, there have been encouraging response to the launch of the e-Naira.

“Today, customers who download the eNaira Speed Wallet App will be able to Onboard and create their wallet; fund their eNaira wallet from their bank account; transfer eNaira from their wallet to another wallet and make payment for purchases at registered merchant locations. “I therefore appeal to Nigerians to embrace the eNaira just like our physical Naira – our pride.”

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