The Central Bank of Nigeria (CBN) has assured financial institutions in Nigeria that the establishment of eNaira is not a subtle scheme to take away bank customers but to grant access to more financially excluded people.
The CBN noted this in the detail published on the website of the country’s digital currency which went live on Monday, ahead of its October 1 launch date.
According to the apex bank, the eNaira opens up a whole new market of digital currency users for financial institutions to increase their customer base and add value to their account owners.
The Godwin Emefiele-led CBN provided details of how the digital currency will affect individuals, businesses, governments and non-governmental organisations.
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The implication of this, according to the CBN, is that:
- The framework of eNaira is such that it entrenches many pipelines of collaboration and further strengthens financial institutions’ core service delivery.
- By its very nature with regards to its mandates, eNaira enhances the structures of these institutions instead of replacing same.
- eNaira opens up a whole new market of digital currency users for financial institutions to increase their customer base and add value to their account owners.
- Financial Institutions act as bridges between customers and the CBN, this increased customer interaction can help them adopt better customer support models.
- eNaira is not a subtle scheme to steal your customers. It is a collaboration to grant access to more financially excluded people.
- eNaira gives every linked financial institution access to the database of customers with wallets domiciled in their banks.
The eNaira platform, since opening about 24 hours ago, has received over a million hits.
