The Central Bank of Nigeria (CBN) has refuted rumours that it intends to replace the naira notes in circulation with digital currency, the eNaira, in the future.
The CBN’s Director of Corporate Communication, Mr. Osita Nwanisobi, stated in a statement issued on Saturday that the rumours were false.
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According to him, the eNaira adoption remark allegedly made during a stakeholders’ engagement in Asaba, Delta State, was misconstrued.
He urged the public to disregard the news reports.
The director of the Central Bank of Nigeria (CBN) explained that the digital version of the naira would circulate simultaneously as a medium of exchange and a store of value in order to complement the existing currency notes.
Mr. Nwanisabi extolled the merits of the eNaira, emphasising that, in addition to its safety and ease of use, it will provide underbanked and unbanked individuals with greater access to financial services, thereby promoting financial inclusion.
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He urged the general public and business owners to adopt the digital currency because it provides more opportunities.
President Muhammadu Buhari officially introduced the eNaira into circulation in October of 2014.