eNaira: Nigerian Naira Notes Will Soon Be Faced Out — Apex Bank

The Central Bank of Nigeria has said that paper currency will soon be out of circulation, urging market men and women to sign into the eNaira.

The Delta State Branch Controller of CBN, Mr Godwin Okafor, stated this on Friday at the popular Ogbogonogo market during the market sensitisation on e-Naira.

Nigerians Should Key In To eNaira – CBN

He urged traders to key into the central bank’s e-Naira policy.

He 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.”

The consultant of CBN on e-Naira, Dr. Aminu Bizi, said Delta was chosen as the second state to sensitise market women on e-Naira after Lagos.

“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 said the use of e-Naira was effective, charges free unlike ATM and POS and cannot be hacked by fraudsters.

In his remark, the Secretary to the State Government, Chief Patrick Ukah, applauded CBN for the e-Naira initiative.

Ukah who was represented by the Director of Finance and Account in the office of SSG, Mr. Benson Ojoko, said the state was delighted with CBN programmes, describing e-Naira as a laudable programme that has placed Nigeria in international finance.

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About the Author: Femi Adeoya

Mr Femi Adeoya is a Chartered Forensic Accountant and a Certified Fraud Examiner. He has over 20 years professional work experience in accounting, finance and business management processes. As an Accounting Software Expert, he has implemented and supervised accounting solution set up of over 50 small and medium businesses in Nigeria. As a passionate blogger, Mr Adeoya is an ardent writer and communicationist. He is the CEO of QUICK LOAN ARENA (quickloanarena.com), the number 1 loan apps review website in Nigeria. He is very passionate about the quick and instant loan industry in Nigeria and has written over 200 reviews on different loan apps and digital banks in Nigeria, USA, Canada and UK.

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