CBN inaugurates eNaira ambassadors

CBN inaugurates eNaira ambassadors – reports – The Central Bank of Nigeria, CBN, has inaugurated eNaira wallet student ambassadors in the University of Jos.

Esther Tinat, the branch manager of the apex bank in Jos, who inaugurated the ambassadors, said that the initiative is from the Central Bank Digital Currency (CBDC), aimed at improving the economy.

She explained that the initiative was introduced in 2021, making Nigeria the first country in Africa to introduce the CBDC.

According to Tinat, CBDC, issued by the government, has the same value as the paper, fiat, or currency.
”eNaira is an electronic version of the local paper naira currency, equal in value and issued by the CBN.

”It is not intended to replace cash, but it is going to function as a safe and efficient alternative means of payment.

”eNaira has the same value as the physical naira, its value will rise or fall in relation to the dollar in the same way as the fiat currency.

”The economy of the world is evolving, and we don’t have to be left behind; once you have the wallet, you can purchase anything you want,” she said.

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