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CBN: eNaira’ll boost access to intervention funds

The Central Bank of Nigeria (CBN) has said that its digital currency, eNaira, will enable more Nigerians to access the various intervention funds established by the country’s fiscal and monetary authorities. The Lagos Branch Controller at the apex bank, Mr. Godfrey Koyor, stated this at the sensitisation and activation of the eNaira programme organised by the regulator, in collaboration with Bizi Mobile and Oshodi Market leaders, at the Kairo Market, Oshodi, in Lagos, yesterday. According to him, given the many advantages that eNaira has over other e-payment channels, the digital currency provides the appropriate platform through which CBN and the Federal Government can ensure that funds disbursed under their intervention schemes are accessed by financially excluded Nigerians. Koyor said: “Nowadays, everybody has a phone and with that phone you can download and use eNaira. You won’t have situations where we say, transaction did not go through.

In eNaira transactions, there is no suspense account whereby you have to go to the bank to see somebody before they will put the money there for you. “No. once your transaction is done from your own end, it hits the other person at the same time. Those who have suffered from financial exclusion, this is an opportunity for you – eNaira is there to include everybody.

 

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