Business

CBN To Simplify E-Naira Wallet For Users

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The Central Bank of Nigeria (CBN) has said it will build an ecosystem allowing everyone easy access and use of the e-Naira wallet even for small transactions.

e-Naira
e-Naira

Speaking yesterday at Kairo market, Oshodi Lagos, the branch controller of CBN LagosKotor Godfrey, said that being the second Central Bank Digital Currency (CBDC) fully open to the public after the Bahamas Sand Dollar, the digital currency is gaining traction with the projection of its download to 10,000 in the second quarter of 2022 from the 7,300 recorded in the first quarter of the year.

He said that in order to ramp up awareness and adoption of the e-naira, the apex bank, in collaboration with Bizi Mobile and Oshodi Market Leaders commenced sensitization and activation of the e-Naira Wallet.

He said: “Available data showed that consumer wallet downloads have so far been the most downloaded over the merchant wallet, but transactions between Person-to-Bank and Bank-to-Person have constituted about 90 percent on the platform,”.

Godfrey said the sensitization exercise offers business owners, market men and women the opportunity they have been waiting for to understand the technology and business of e-naira in order to enjoy its benefits.

According to him, the e-naira also known as the giant naira is the first in Africa and among the earliest in the world.

He further noted that  nowadays a lot of people have phones and “with your phone, you can carry out transactions from anywhere.”

In his reaction, the secretary of Oshodi Market Traders Association, Obinna Ume applauded the CBN for the noble initiative, adding that if the e-naira is well adopted, it will boost their trade, in terms of seamless transactions.

According to him, the e-naira will eliminate the challenge of failed transactions or situations where business hours are wasted because monies are transferred with evidence of debit alerts but the receiver could not see the credit alerts which keeps both parties waiting.

While calling on the CBN and other stakeholders to create more awareness, he expressed delight that with the e-naira, third party there is no third party involvement.

Speaking on e-naira business/agent opportunities the Coordinator, Bizi Mobile Aminu Bizi said the target at this early stage is to sensitize the market leaders because they are the ones that will bring all their colleagues in for wider adoption.

According to him, the sensitization exercise will continue in other markets in Lagos, thereafter, it will be extended to other zones in the country.

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