How Nigerian youths will benefit from e-Naira - APC Chieftain, Promise Emmanuel

  Promise Emmanuel, a chieftain of the All Progressives Congress, APC in Kogi State has revealed that Nigerian youths will benefit from the ...

 

Promise Emmanuel, a chieftain of the All Progressives Congress, APC in Kogi State has revealed that Nigerian youths will benefit from the recently introduced e-Naira by the Central Bank of Nigeria, CBN.

Speaking on Thursday, Emmanuel, the Chief Press Secretary to Kogi State Deputy Governor, Edward Onoja, explained that the e-Naira currency is revolutionary because of its potentials to create jobs for young people in Nigeria.

He urged young Nigerians to embrace the new technology, even as he hailed the CBN governor, Godwin Emefiele for introducing reforms in the banking sector.

According to the CPS, ”The e-Naira currency is revolutionary. I say this because of the e-banking potentials which will also create jobs and improve transaction efficiency and distribution.

”Most importantly, Nigeria is the first country in Africa to have adopted the digital asset which belongs to the Central Bank of Nigeria, as a digital form of the physical naira note.

”If we keep embracing this kind of change, it will reduce the cost of printing the physical cash. Nigeria spends heavily on the production of the naira notes, the e-Naira will reduce this cost drastically.

”The process of registering and transacting with the eNaira is also less cumbersome, unlike the standardized physical banking for transfers or withdrawals which takes time. Such technological advancements are meant for the youth demography who are more tech-savvy.

”With the growing demand for digital currencies like Bitcoin, Binance, etc by Nigerian youths who trade on cryptos that are largely unregulated, leading to high losses, the eNaira insures one against such losses because it is regulated and backed by the CBN.

”If more attention is paid to digital transactions, it will be easy to fight fraud, money laundering, and other economic malpractice.

”The Nigerian youths who are diligent and forthright would not also have their names in the murky waters by those who would rather choose to defraud others of their hard-earned monies through Yahoo-Yahoo, Ponzi schemes, networking businesses et al, as it would be easy for sources of funds to be trailed.”

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