CBN Disowns Statement On Withdrawal Of Naira Notes From Circulation 

CBN Disowns Statement On Withdrawal Of Naira Notes From Circulation 

Following the reports that the Central Bank of Nigeria (CBN) planned to replace the Naira notes in circulation with digital currency, the eNaira in due course, the bank has come out clearly to disown the reports.

Fielding questions from our Reporter in Abuja, the Director, Corporate Communications Department of the apex bank, Mr Osita Nwanisobi, described the statement as false. It will be recalled that the statement was purportedly made during a stakeholders’ engagement on eNaira adoption in Asaba, Delta State.

Nwanisobi stated that it was misconstrued and therefore called on the general public to disregard such in its entirety.

He explained that the digital version of the Naira is meant to complement the existing currency notes and therefore will circulate simultaneously as means of exchange and store of value.

See Also  Buildings Still Being Razed In Ohafia Despite Nigerian Army’s Dismissal Of Report Of Killing Of Six Soldiers

On the benefits of adopting the eNaira, the spokesman hinted that the digital legal tender, aside from the safety and speedy features, it will also ensure greater access to financial services by the under-banked and unbanked populace thereby enhancing financial inclusion.

Nwanisobi therefore, urged members of the public and business owners to embrace the digital currency, the eNaira as it offers more possibilities, pointing out that the eNaira was formally launched into circulation by President Muhammadu Buhari in October last year.

Uche Nwosu is a two time Shell Petroleum PLC award winner in the year 2000;
He won the Shell Award on Investigative Journalism and Environmental Cleanliness.

Leave a Reply

Your email address will not be published. Required fields are marked *