E-naira wallet will address scarcity of cash – SA, CBN Governor


The Special Assistant on Payment to the Governor of the Central Bank, Mary Fasheitan said that usage of the digital naira called eNaira currency, will address the scarcity of cash in the country.

Fasheitan stated this while sensitising traders and people of the state in Akure to the need to embrace the cashless platform for transactions.

She said that CBN, in collaboration with the Bankers Committee in the state, organised the sensitisation for people to understand all the benefits that e-naira brought to the banking system.

She explained that it is a good opportunity to key into the initiative, saying it’s seamless and can be done anywhere.

The SA added that the platform could be used for all economic transactions without any charge.

Earlier, the CBN team had visited the Deji of Akure, Oba Aladetoyinbo Aladelusi, on usage of the digital currency in the state.

The Acting Branch Manager of CBN in Akure, Mr Samuel Giwa, told the traditional ruler that the policy was an initiative spearheaded by the CBN which aimed to reduce the physical cash in transactions and promote the adoption of digital payments.

“The eNaira is not just a currency, but an important step towards building a more robust and secure financial ecosystem.

“It was designed to make transactions easier, efficient, and more secure.

“The eNaira has indeed become a critical part of the Nigerian financial ecosystem, and an alternate channel.

“It will not only support the Ondo State economy, but Nigeria as a whole; a symbol of progress and innovation and will pave the way for a more secure and efficient financial system,” Giwa stated.

Speaking, Oba Aladelusi commended all the alternative means of economic transactions introduced by the CBN.