eNaira: No Plans To Withdraw Naira Notes From Circulation -CBN

Director, Corporate Communications Department, CBN, Mr. Osita Nwanisobi.

The Central Bank of Nigeria (CBN) has clarified that there was no plans to replace the Naira notes in circulation with digital currency (eNaira) as being speculated.

This was disclosed by the apex bank’s Director, Corporate Communications Department, Mr Osita Nwanisobi in a telephone conversation with news man in abuja at the weekend.

Mr Nwanisobi disclaimed that the withdrawal statement purportedly to have been made during a stakeholders’ engagement on eNaira adoption in Asaba, Delta state was misconstrued and therefore, called on the general public to disregard such in it’s entirety.

According to Mr Nwanisobi, the digital version of the Naira was meant to complement the existing currency notes and therefore, will circulate simultaneously as means of exchange and store of value.

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 underbanked and unbanked populace thereby enhance financial inclusion.

Mr Nwanisobi therefore, urged members of the public and business owners to embrace the digital currency, the eNaira as it offers more possibilities.

The eNaira was formally launched into circulation by President Muhammadu Buhari in October last year.

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