Cashless Policy: CBN Urges Nigerians To Embrace E-Banking

The Central Bank of Nigeria (CBN) has urged Nigerians to embrace alternative payment channels such as eNaira, USSD and other internet banking facilities in line with its cashless policy.
The apex bank said the idea became necessary as the country was gradually marching towards the alternative payments policy regime, which was the trend all over the world.

Dr Abdulmumin Isa, CBN’s corporate communications chief, made the call during CBN’s Special Day at the ongoing 34th Enugu International Trade Fair on Friday in Enugu.

He added that the country could not afford to be left behind in the global financial ecosystem but rather embrace digital payment channels.

Mr Abdulmumin, represented by the Assistant Director, Communication Department, CBN, Imoh Esu, said CBN had continued to seek creative ways to ensure that Nigeria took full advantage of opportunities and benefits of digital payment channels.

This, he said, led to the launch of the eNaira in October 2021 aimed at broadening the payment possibilities of Nigerians, fostering digital financial inclusion, with potential for fast-tracking inter-governmental and social transfers.

“Similarly, the CBN in collaboration with the Nigerian Inter-Bank Settlement System (NIBSS), recently launched the National Domestic Card Scheme – the first in Africa.

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