Sign in
Download Opera News App

News Politics

 

Politics

 

Nigeria politics

What Nigerians Should Expect As President Buhari Plans To Launch The E-Naira.

Nigeria is no doubt a blessed country, despite so many problems facing the country most especially the Boko Haram terrorist in the North East, we are still able to unite to keep the country moving forward.

President Muhammadu Buhari since coming into office in the 2015 presidential election, He has been outstanding in his duty of moving the country forward and this could be seen in the vigorous fight against terrorism, infrastructural development etc.

Without much word, in this article I will be bringing to your knowledge the E-Naira, a digital form of money the CBN just introduced.

E-Naira is a new digital currency developed by Bitt.inc, it's an electronic form of the Naira which can also be used as a legal tender all across the country.

According to BBC News Pidgin, The E-Naira will be be launch tomorrow Monday 25th 2021 by President Mohammadu Buharia at the state house Abuja. It was scheduled to be launched on 1st October 2021 but was cancelled because of Nigeria 61st independent day activities.

The E-Naira will help improve the country's economic and at the same time curb economic crime because of its following features.

(1)A Unified Payment system: Nigerian with multiple bank accounts will find the E-Naira very helpful, because it allows easy movement of cash from one bank account to another.

(2) It allows for the use of contactless payment: Nigerians can now pay for any service by scanning the QR code of the product.

(3)It will aid border-border trade.

You might be wondering how safe is the E-Naira, That shouldn't be a problem because it use the blockchain technology which makes it very hard to hack.

In general, the E-Naira is an effective payment system when compared with the normal cash payment, it will be used as a store of value and a medium of exchange.

Thanks for your time.

Image credit: Google

Content created and supplied by: Nathtoski5 (via Opera News )

CBN Muhammadu Buhari Naira Nigeria Nigerians

COMMENTS

Load app to read more comments