President Muhammadu Buhari has unveiled Nigeria’s first ever digital currency – the E-Naira, which is also the first of its kind in Africa.
President Buhari performed the ceremony at the Presidential Villa in Abuja alongside Vice President Yemi Osinbajo, and the Governor of the Central Bank of Nigeria, Godwin Emefiele, among other dignitaries.
In his remarks, President Buhari recalled that the journey of the E-Naira started something in 2017, adding that the launch has position the country for increased economic growth.
On his part; the Governor of the Central Bank of Nigeria, Godwin Emefiele, described the launch of the E-Naira as a journey of possibilities.
Emefiele said the E-Naira would help to achieve financial inclusion, as he promised that there would be further improvements in the coming months.
Speaking further; the CBN Governor also announced a new policy to support and reward local production, which he calls One-Hundred for One-Hundred.
Meanwhile; Nigerians on the streets of Lagos have reacted differently to the launch of the E-Naira.
Some of those who spoke with Lasgidi FM’s Najite Atirene, praised the Central Bank of Nigeria for introducing the digital currency.
However; some traders and artisans expressed fear about the risk of losing their money to internet fraudsters through the digital currency.
However; some financial and technology experts have said that more work still needs to be done to encourage the use of the digital currency.
One of them is Teniola Olushola, who said there was need to educate people about the risk of digital banking and currency transactions.
On his part; Ayewande Alalemo, who is a FinTech expert; praised the E-Naira, which he said offers an opportunity to bank directly with the Central Bank of Nigeria.