CBN, Bankers’ Committee Urge C’River Traders to Embrace  eNaira, Other e-Payment Channels


The Central Bank of Nigeria (CBN) and the Bankers’ Committee have enjoined traders in Cross River State to embrace the eNaira and other electronic payment channels in system in other to reduce physical use of cash and promote seamless business transactions.

The CBN working in collaboration with the Bankers’ Committee, made the appeal yesterday, at Watt Market, Calabar, when they staged an awareness and sensitisation campaign on cashless policy and the use of e-Naira by traders for business transactions.

Addressing the traders, Assistant Director, Payment System Management, CBN, Mr. Chika Ugwueze, said the sensitisation exercise was aimed at providing adequate information to traders, and members of the public about the cashless policy as an alternative to the use of cash in the country.

Ugwueze who stated that the CBN introduced the eNaira as an alternative to cash, explained the benefits of the digital payment platform to the traders.

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He advised every Nigerian that operates in the nation’s banking system, especially those engaging in business to download the eNaira and use it as digital money.

“The important message to all Nigerians is that the eNaira is not an alternative to your bank account, but an alternative to cash in your wallet because it offers efficiency in payment and improves security.

“Generally, the eNaira has helped to deepen the payment options in the market. The CBN has developed different platforms of using the eNaira.

“As long as you have a telephone in Nigeria, you can have access to the eNaira

“There is no deadline for going cashless; we are just presenting options that will widen payment platforms and make them available for Nigerians,” Ugwueze said.

Speaking at the event, Assistant Banking Officer, Zenith Bank, Calabar, Mrs. Ebere Bassey, said in view of the CBN’s cashless policy, the sensitisation campaign was timely.

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Bassey urged the traders to reduce overdependence on cash by reducing electronic means of payment.

The Relationship Manager, Access Bank, Calabar, Mr. Thomas Udie, who also addressed the traders, said public campaign was initiated to create awareness on the cashless policy and need to subscribe to the eNaira.

Udie urged the traders and other members of the public in the state to embrace the various electronic platforms for digital money transactions so as to reduce the physical movement of cash.

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However, Udie said so far, the CBN had been supplying them with cash for business so, Access bank branches in Calabar have no issues with cash disbursement to customers.

A trader in the market, Mrs. Theresa Okon, said although the cashless policy was a good one, traders still required cash to transact their businesses daily.

A Nollywood actor, Imeh Bishop-Umoh, popularly called “Okon Lagos”, who featured in the public awareness campaign and spoke in Efik language, urged the traders to make good use of the eNaira and electronic payments to increase their turnover, as well as reduce the movement of cash.

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