The Central Bank of Nigeria, CBN, has urged traders to adopt eNaira as a safe and efficient means of transaction.
The apex bank, which disclosed yesterday during a market outreach program in Kairo, a popular textile market in Oshodi, Lagos, said digital currency also promotes financial inclusion, efficiency, reliability and security.
The Comptroller of the CBN Lagos Branch, Mr. Bariboloka Koyor, expressed satisfaction with the uptake of the initiative by traders, particularly the commitment of the management of the market association to engage in a store-to-store campaign to onboard more users.
Banking branch expert Dr. Aminu Bizi said that enira is safer than other digital currencies and has no hidden fees.
“There are a lot of benefits for traders. It is faster than any other, there is no fraud in transactions as it is 99.99% secure. It is also easy to use compared to others. They are also assured of their exact money as there are no hidden deductions,” he said.
Dr. Bizi, who is the apex bank’s consultant on the outreach programme, pointed out that the campaign will be extended to other markets across the country.
The General Secretary of Market Men and Women in Oshodi, Obinna Umeh, said that eNaira will put an end to many disputes that arise as a result of market transaction failures.
He urged the CBN to raise awareness and educate traders on the benefits of digital currency.