Thursday, December 8, 2022

Nigeria Takes e-Naira to its Grassroot to Accelerate Adoption

The Central Bank of Nigeria (CBN) has commenced a massive push for its Central Bank Digital Currency (CBDC) e-Naira. The West African country has decided to partly commit the responsibility of accelerating e-Naira adoption to transporters in the country. With commitment from motorcycle and tricycle operators, CBN aims to boost the subscription base of the country’s digital currency.

Remarkably, this is one of the first public push that the central bank will give the digital currency since its upgrade a few months ago.  Already, CBN has some of these transporters registered on its digital asset platform. This has been done in collaboration with agency banking expert Bizi Mobile Cashless Consultant.

According to local media firm Vanguard, Hajiya Rakiya Mohammed has taken this enrollment campaign to motorcycle and tricycle operators in Galadimawa. Precisely, Mohammed introduced this enrollment to the specified transporter group which was in Galadimawa Roundabout in Abuja, the capital city of Nigeria. 

Nigerian e-Naira Introduced to Abuja Transporters

Noteworthy, Hajiya Rakiya Mohammed is CBN’s Director of Information Technology and the Coordinator of the Technical Working Committee on e-Naira.

Strongly, the CBN executive reiterated her belief in the choice of method for boosting the CBDC adoption and use cases. Citing her statement, she claims that introducing small-scale business owners to e-Naira will create awareness.

Addressing the transporters, a spokesperson for the Director identified as Dr. Khalipha Nuhu said,

“We are here today for the e-Naira adoption drive. E-Naira is the CBN digital currency- the digital equivalent of the Naira we spend on a day-to-day basis. We are here today to promote awareness; to intimate people with this new form of money; get people to know what it means and to onboard people to use it in a simplified way.

Our adoption drive covers all sectors and all segments. That is from government institutions, big businesses, MSMEs, and day-to-day traders,” he continued

Equally, the spokesperson enlightened his audience on the simplified method of using the e-Naira, especially with the addition of some features. Additionally, a subsidy has been introduced for the transporters and their riders who register for the e-Naira. CBN has a goal of installing 10 agent points in each of the 774 local governments of Nigeria.

Meanwhile, leading cryptocurrency exchange Binance has tapped the former chairman of First Bank of Nigeria (FBN), Ibukun Awosika to join its advisory board.

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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