CBN assures of inclusive economic growth ahead launch of e-naira

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The Central Bank of Nigeria, (CBN), has said that it will not rest on its oars at ensuring inclusive economic growth and sustainable development through the introduction of the-naira, which will soon be launched.

Director, Corporate Communications Department, CBN, Osita Nwanisobi, made this known at the ongoing 16th Abuja International Trade Fair hosted by the Abuja Chamber of Commerce and Industry, (ACCI) at the weekend in Abuja.

He said the operation of the e-naira is safe, easily accessible, digitised and could be easily accessed through banks and other payment platforms.

Nwanisobi who took journalists on a ‘Special Day with the CBN’ tour of the CBN trade fair pavilion, said while banks and other financial services providers would be involved in the distribution of the currency, the apex bank will be the central authority in terms of minting and issuance of the e-naira.

“In the coming days, the CBN will be unveiling the Central Bank Digital Currency (CNDC), the e-naira. The e-naira is the digital version of Nigeria’s legal tender with the same value as the fiat naira, (physical naira notes),” he said.

He further explained that the bank has continued to ensure robust, safe, reliable, credible and efficient payments system in the country through the revision of the Mobile Money Operations, (MMOs), and has raised the Loan to Deposit Ratio, (LDR), from 60 percent to 65 percent to encourage more lending by banks.

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