The Central Bank of Nigeria CBN has said that paper currency will soon be out of circulation, urging market men and women to sign into the e-Naira.
The Delta State Branch Controller of CBN, Mr. Godwin Okafor, stated this on Friday at the popular Ogbogonogo market during the market sensitization on e-Naira.
He urged traders to key into the central bank’s e-Naira policy.
He said, “We here at the market today to sensitize the market people on the use of e-Naira. It is fully backed by CBN unlike Bitcoin has no legal backing.”
The consultant of CBN on e-Naira, Dr. Aminu Bizi, said Delta was chosen as the second state to sensitize market women on e-Naira after Lagos.
“We are here to sensitize market men and women shop to shop on the use of e-Naira. CBN has gone behind ATM, and POS, therefore, we are going to meet the Okada/tricycle union on this policy.
“Paper currency will soon be out of circulation because CBN spent money to print money and people abuse the currency in the market, spraying at the occasion, payment of Okada/tricycle and others and CBN is losing”
He said the use of e-Naira was effective, charges free unlike ATM and POS, and cannot be hacked by fraudsters.