CBN Takes eNaira Sensitisation Campaign to Akwa Ibom

Okon Bassey in Uyo

The Central Bank of Nigeria (CBN) yesterday, took its eNaira awareness drive to Akwa Ibom State, explaining that the digital currency was introduced to aid financial transactions in the country.

The CBN therefore called on Nigerians to embrace the digital currency.
The CBN offered the explanation while speaking during the eNaira sensitisation at the University of Uyo.
Branch Controller of CBN, Uyo, Mercy Itohan Ogbomonpaul, said the sensitisation programme was to educate the university community on the system and encourage them to key into it.

Interacting with the Vice Chancellor of the University of Uyo, Prof. Nyaudoh Ndaeyo, the CBN branch controller noted that though the eNaira was launched in 2021, it has not received wide publicity and usage as it should.

Ogbomonpaul, who was represented by the Assistant Director, CBN, Isang Agbomi Enya, said Nigeria was the seventh nation to introduce eNaira, pointing out that other countries have gone beyond the physical cash payment and are now using the e-payment system.
“We are here to partner with you on the eNaira. Globally, the economy is now going e-payment and not cash payment as it is known in our environment. The central bank in its wisdom, in line with best practices adopted the eNaira platform.

“The eNaira is expected to help us to be in par with what other countries are doing. The unfolding trend now is that we use e-payment rather than the physical cash. The e-naira is an initiative of the Central Bank that would work in par with the physical cash.
“It is the semblance of the naira that we could use in transaction rather than the physical cash because the naira as we know is very difficult and is costly to replace.

“The eNaira would help us to handle those deficiencies that are noticed and experienced in the use of cash. The eNaira would also help us in our policy making, in terms of monetary policy decisions because decisions are made based on information we have.
“If we are all in the eNaira platform, the central bank would be able to ascertain how much has been transacted in the e-naira platform and able to make policy decisions for our monetary policy in the country,” she stated.

According to Ogbomonpaul, the eNaira system was more viable, simple, and easy to use, adding that it would ease the payment of revenue and was in line with what is tenable in other advanced nations.
“The eNaira would make our payment system more viable and bring in more people into the system. It is simple, it is easy and will allow the government to get its revenues in terms of payment very easily,” he added.

Responding, Vice Chancellor of University of Uyo, Prof. Nyaudoh Ndaeyo said the institution was happy to be part of the initiative and would partner with CBN on the eNaira.