By Harrison Edeh
THE Central Bank of Nigeria (CBN) has described reports that it is planning to replace naira notes with digital currency – eNaira – as mere speculation.
There were reports that the apex bank will phase out naira notes and replace them with the eNaira.
However, the Director, Corporate Communications Department of the CBN Osita Nwanisobi told The ICIR that the apex bank has no plans to phase out naira notes.
Nwanisobi urged members of the public to disregard reports that an official of the CBN had, during a stakeholders engagement on eNaira adoption in Asaba, Delta State, said naira notes would be phased out.
According to Nwanisobi, the digital version of the naira was meant to complement the existing currency notes and therefore, will circulate simultaneously as a means of exchange and store of value.
Speaking further on the benefits of adopting eNaira, Nwanisobi hinted that the digital legal tender aside from being a safe and speedy means of transaction, will also ensure greater access to financial services for the under-banked and un-banked populace and thereby enhance financial inclusion.
He, therefore, urged members of the […]