The Central Bank of Nigeria has said that the eNaira is more reliable than cryptocurrencies.
This was disclosed by CBN Director of Corporate Communications, Nnamdi Okwuosa, at the CBN Sensitization event in Abia and Ebonyi states.
Okwuosa stressed that the eNaira is a legal tender issued by a sovereign nation and regulated by the Central Bank of Nigeria, whereas cryptocurrencies are not regulated.
Speaking further, he said, “Digital currency (eNaira) is more reliable than cryptocurrency which is not regulated.”
The fair was themed ‘Promoting financial stability and economic development,’ provided an opportunity for stakeholders and the general public in the two states to understand the eNaira, consumer protection, currency operations, payment system management, and development finance initiatives.
Okwuosa observed that the CBN was constantly keeping an eye out for threats to Nigeria’s financial system, putting it in at a vantage point when providing reliable economic advice, adding that people “must listen to us.”
He stated that losing money to scammers and unregistered financial institutions will be eradicated if people listen only to the bank and avoid unregulated institutions.
Recall that in October, the eNaira was launched by the apex bank as Nigeria’s digital currency.
