The Central Bank of Nigeria (CBN) in partnership with the Bankers’ Committee has launched a new phase of sensitization aimed at encouraging the adoption of the eNaira, an electronic payment system that serves as an alternative to cash.
The initiative is part of the CBN’s efforts to increase awareness of various electronic payment channels available to Nigerians, with the ultimate goal of making financial transactions less stressful.
During a press briefing held at the Etim Edem park in Calabar, Assistant Director of the Payment System Department, Mr. Chika Ugwueze, explained that the eNaira platform was introduced by the CBN as a complement to cash, not a replacement for bank accounts. Ugwueze noted that the eNaira system offers greater efficiency and improved security, making it a viable option for Nigerians who may not have access to traditional banking services.
He further explained that the eNaira platform can be accessed with a basic phone using a USSD code, making it accessible to over 100 million Nigerians who own telephones. Ugwueze emphasized that while cash still remains a legitimate means of transaction, the CBN is promoting other electronic payment platforms, such as the eNaira, to make financial transactions easier and more convenient for Nigerians.
The Branch Manager of Keystone Bank Calabar, Mr. Nsikak Ubom, also reiterated the benefits of using the eNaira platform, including reduced queue times and lower risk of crime associated with carrying physical cash. He encouraged Nigerians to avoid panic withdrawals and instead use alternative payment channels such as internet banking, POS, ATM, USSD code, and barcodes.
Ubom added that if e-currency systems worked in other parts of the world, they could work in Nigeria if the citizens were adequately sensitized. In conclusion, both Ugwueze and Ubom urged Nigerians to take advantage of the eNaira platform and other electronic payment channels, which offer greater convenience and security compared to traditional cash transactions.
Comments are closed.