The Central Bank of Nigeria (CBN) began a two-day public sensitization campaign in Abia on Thursday on its newly introduced digital currency, also known as eNaira, and other initiatives.
The purpose of the sensitization fair, according to Mr Osita Nwanusobi, CBN Director, Corporate Communications, was to engage the public and educate them about the eNaira and other monetary policies of the central bank.
Participants from many sectors of the economy attended the event, which was held virtually in Abia and Ebonyi.
He also stated that the goal of the program was to raise public knowledge about the CBN’s numerous interventions and how individuals could access them.
Mr Abul-Jalil Yusuf, a spokesman of the eNaira initiative, stated in his presentation that the digital money will promote the payment system.
He said that the CBN digital currency would boost financial inclusion, remittances, and monetary policy effectiveness.
It will, according to him, eliminate third parties, allowing for more efficient and low-cost transactions, among other things.
Yusuf noted that eNaira differed from cryptocurrencies in that it is a legal tender and a CBN obligation, but cryptocurrency is a private enterprise that cannot be trusted.
With the debut of the eNaira on Oct. 25, he added, Nigeria became the first country in Africa to do so, as well as one of only seven countries in the world.
In separate speeches, Mr Onyeka Ogbu, CBN Branch Controller, Umuahia, and Mr Christopher Adayi, CBN Branch Controller, Ebonyi, stated the South-involvement East’s in CBN activities had remained low.
They advised individuals to take advantage of the bank’s many economic initiatives and policies to help them grow and prosper.
The CBN informed the audience about its other programs, such as the Payment System, Real Sector Financing, Financial Inclusion, and Consumer Rights.
Really no matter if someone doesn’t understand after that its up to other people that they will help, so here it happens.
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