The Central Bank of Nigeria has said that paper currency will soon be out of circulation, saying that people abuse the currency in the market, spraying at the occasion, payment of Okada/tricycle and others.
The CBN therefore urged market men and women to sign into the e-Naira policy.
Delta State Branch Controller of CBN, Mr Godwin Okafor, made this known on Friday at the popular Ogbogonogo market during the market sensitisation on e-Naira.
According to him,”We are here at the market today to sensitise the market people on the use of e-Naira. It is fully backed by CBN, unlike Bitcoin which has no legal backing.”
CBN consultant on e-Naira, Dr. Aminu Bizi, said Delta was chosen as the second state to sensitise market women on e-Naira after Lagos.
His words,”We are here to sensitise market men and women, shop to shop on the use of e-Naira. CBN has gone behind ATM, 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 added that the use of e-Naira was effective, charges free unlike ATM and POS and cannot be hacked by fraudsters.
