The Central Bank of Nigeria (CBN) has debunked reports that it planned to phase out the circulation of the conventional Naira notes and replace it with digital currency, otherwise known as eNaira in due course.
CBN’s director of communications, Osita Nwansiobi said the misleading statement purportedly made at a stakeholders’ engagement on eNaira adoption at Asaba, Delta State was misconstrued and therefore urge the public to disregard it.
Nwanisiobi further explained that the digital version of eNaira is meant to complement the existing currency notes and therefore would circulate simultaneously with the conventional Naira notes as means of exchange and store of value.
He said the adoption of the digital legal tender, aside from its safety and speedy features would also ensure greater access to financial services by the underbanked and unbanked populace thereby enhancing financial inclusion.
He urged the public and business owners to embrace digital currency as it offers more possibilities.