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eNaira better than crypto – CBN



IN a move to encourage Nigerians to further embrace the recently launched eNaira, Central Bank of Nigeria (CBN) has described the policy as a better and safer medium of exchange not comparable to cryptocurrencies.

  CBN Director of Corporate Communications, Nnamdi Okwuosa, gave the reasons during a fair organised by the apex bank in Abia and Ebonyi States as part of its massive sensitisation and public awareness drive for eNaira.

  Speaking at the fair with the theme, promoting financial stability and economic development,  Okwuosa argued that eNaira is not a threat and Nigerians should listen and follow the guidance of the apex bank.

  “Digital currency (eNaira) is more reliable than cryptocurrency which is not regulated. Stakeholders and Nigerians in general should avoid unregulated institutions and transactions which expose them to scammers, because eNaira operates in a regulated environment as opposed to cryptos that are not regulated. In Nigeria, eNaira is already a legal tender backed by a sovereign nation and CBN will always be there to guide users against falling into danger,” he said.

  It will be recalled that e-Naira was officially launched in Nigeria as a digital currency in Abuja by President Muhammadu Buhari, recently.

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