In its bid to ensure that the cashless policy is fully implemented in Nigeria, the Central Bank of Nigeria (CBN) has urged stakeholders and institutions
It regretted that the majority of people are not using the e-Naira platform even though it started in 2021.
Ogbomonpaul, who was represented by the Assistant Director, CBN, Elder Isang Agbomi Enya, explained that the e-naira will aid monetary policy decisions and address some deficiencies seen in the use of physical cash. “The e-Naira is expected to help us to be at par with what other countries are doing. The unfolding trend now is that we use e-payment rather than physical cash. It is the semblance of the Naira that we could use in transactions rather than physical cash because the Naira, as we know, is very difficult and costly to replace.
“If we are all on the e-Naira 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.”
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