29 Nov 2022, 2:44 AM (GMT)

COVID-19 Global Stats

646,694,537 Total Cases
6,638,042 Death Cases
625,116,589 Recovered Cases

No Plans To Withdraw Naira Notes From Circulation, Says CBN

The Central Bank of Nigeria (CBN) has debunked reports that it intends to replace the naira notes in circulation with digital currency, the eNaira, in due course. 

CBN Director, Corporate Communication, Mr Osita Nwanisobi, said in a statement on Saturday that the reports were false.

According to him, the comment purportedly made during a stakeholders’ engagement in Asaba, Delta State on eNaira adoption, and on which the reports were based, was misconstrued.

He called on the general public to disregard the reports.

The CBN director explained the digital version of the naira was meant to complement the existing currency notes and therefore, would circulate simultaneously as a means of exchange and store of value.

Mr Nwanisabi touted the benefits of the eNaira, stressing that apart from its safety and speed of use, it will give the underbanked and unbanked populace greater access to financial services, enhancing financial inclusion.

He urged members of the public and business owners to embrace the digital currency as it offers more possibilities.

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

Nadula Tax Return Season Sale under $200 wigs, beginner friendly & quick install


Lagos Post Online

Publisher, Lagos Post Online, Lagos Post is an online publication that seeks to provide fair, unbiased, credible, balanced and useful information about Corporate Organisations, Governments and the General Public by breaking news in Business, Politics, Arts, Entertainment, Culture, and Sports in Nigeria, Africa and the World. As a global news portal, we continually stand for responsible journalism and sound media practice. Mobile: +238025837037 Email: lagospostng@gmail.com

Related Articles

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker