The Central Bank of Nigeria (CBN), on Monday, launched eNaira, the digital equivalent of the physical Naira issued by the apex bank as the official tender ofthe country.
The eNaira is a complementary legal tender to the physical Naira and have the same exchange value as the Naira, that is one Naira will equal one eNaira.
The eNaira is built on a blockchain open ledger technology. Creating the eNaira on the blockchain means there won’t be duplicate or fake eNaira, with each eNaira having its own uniqueness.
Here are seven reasons Nigerians should embrace eNaira;
1. Guaranteed service availability and reliability
2. Advanced data privacy and security
3. Low charges
4. Nationwide acceptance
5. Facilitate ease of remittances by diaspora Nigerians
6. Improve efficiency of cross-border transactions
7. Enable direct welfare disbursements to citizens