Central Bank of Nigeria says paper currency will soon be out of circulation, advising traders to sign into the e-Naira.
This was announced by Delta State Branch Controller of CBN, Mr Godwin Okafor, on Friday,
during the market sensitisation on e-Naira held at the popular Ogbogonogo market.
Okafor advised traders to key into the central bank’s e-Naira policy.
The CBN branch controller said, “We are here at the market today to sensitise the market people on the use of e-Naira. It is fully backed by CBN, unlike Bitcoin which has no legal backing.”
Also speaking on the occasion, CBN consultant on e-Naira, Dr. Aminu Bizi, explained that Delta was chosen as the second state to sensitise market women on e-Naira after Lagos.
Bizi said, “We are here to sensitise market men and women, shop to shop on the use of e-Naira. CBN has gone behind ATM, POS, therefore, we are going to meet the Okada/tricycle union on this policy.
“Paper currency will soon be out of circulation because CBN spent money to print money and people abuse the currency in the market, spraying at the occasion, payment of Okada/tricycle and others and CBN is losing”
He described e-Naira as effective and charges free unlike ATM and POS, adding that it cannot also be hacked by fraudsters.
Also speaking at the event, Secretary to the Delta State Government, Chief Patrick Ukah, commended CBN for the e-Naira initiative.
The Delta SSG, who was represented by the Director of Finance and Account in hid office, Mr. Benson Ojoko, expressed the delight of the state with the apex bank’s programmes.
He described e-Naira as a laudable programme which has placed Nigeria on the map of international finance.