CBN sensitizes corps members on eNaira wallet
managarciya
From Ali Rabiu Ali, Dutse.
Central Bank of Nigeria (CBN) has sensitized corps members in Jigawa state on the benefits of eNaira wallet.
Abdu Amadu who led the CBN team to national Youth service corps (NYSC) camp in Dutse on Tuesday said eNaira has a lot of benefits in easing the transaction activities through buying and selling of goods and services.
Amadu said eNaira is a CBN issued digital currency backed by law as a legal tender. It was launched on October 25, 2021.
"eNaira is safe and secured with cryptographic techniques against counterfeiting, cloning, and other forms of attack" he said.
Abdu stated that the eNaira system uses a two-factor authentication system in addition to cryptographic encryption to ensure the safety of customers' wallets and the eNaira holding.
According to Amadu, an eNaira wallet is a digital storage that holds the eNaira. It is held and managed on a distributed ledger. " It's required to access, hold and use eNaira".
The team leader alleged that the eNaira will reduce the level of failed transactions in the payment system, reduction in the cost of transactions, expansion in the scope of financial products and services, increased speed and convenience transactions, and increase confidence among users.
For the unbanked customers, Amadu said it increased revenue base, reduced cost of revenue collection and administration, provides a platform for effective and efficient payments, transparency and accountability in social benefits pay-puts.
Along the line, the CBN officials made POS transaction and naira swap for corps members.
Efforts to interview the corps members couldn't be reached as the NYSC officials didn't allowed the to have interview with them.
