CBN Takes eNaira Sensitisation Drive to Women in UNILAG

Mary Nnah

The Central Bank of Nigeria (CBN) has taken the sensitisation drive of eNaira to women during the Law Ladies Day programme at the University of Lagos (UNILAG).

The initiative was to further promote the adoption of eNaira, the country’s central bank digital currency (CBDC) to women, students, law students and other Nigerians who gathered for the 2023 Law Ladies’ Day programme.

In line with the Law Ladies’ Day programme themed ‘Defying Stereotypes: Celebrating the Different Shades of Femininity’, CBN used the occasion to reach out to students and others within the university campus to sensitise them on the benefits and importance of eNaira transactions and why they should use the channel.

The Special Adviser Payment Systems to the Governor, Central Bank of Nigeria, Mary Fasheitan, who took women through the importance of the eNaira, the advantages and opportunities the digital currency offers to the financial community and women, stated that it was high time women embraced eNaira for transactions.

According to her, eNaira offers financial freedom and women inclusivity which other financial instruments do not provide. It offers fast transaction time, and cross-board payment options and gives women financial inclusion.

“eNaira provides a unique form of money denominated in Naira. eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments. It has an exclusive operational structure that is remarkable and nothing like other forms of central bank money,” she said.

Fasheitan observed that the whole world was going digital, hence the CBN was responding appropriately to the innovation by introducing a lot of cashless policies, of which the eNaira is one, noting that the Central Bank in Nigeria is the first to introduce e-Naira in Africa and only the second in the world.

She encouraged female law students to embrace eNaira and transact with it because it is safe, secure and fully digitalised. “You have nothing to be afraid of because it is one of the most secured channels from the apex bank for transactions.”

The Managing  Partner of Hilton Top Solicitors, Deborah Oni described eNaira as an excellent innovation of CBN that should be lauded.

“eNaira offers various advantages and opportunities to its users. Its blockchain technology feature also enables users to make cross-border transactions easily”. She reiterated that the eNaira would foster women’s financial and economic empowerment

Speaking on the sensitisation exercise,  Oni said, “we have partnered with the CBN on the eNaira and one of our main focuses is to leverage the opportunity to empower women by sensitizing them on the advantages of the eNaira in light of digitalisation.”

“Conversations about women’s financial and economic empowerment should be considered a priority especially in women-focused programs like this to expose them to the opportunities they can leverage and as such be able to participate and harness the opportunities in a digital economy,” Oni added.