Connect with us

Business

CBN not happy with commercial banks over e-Naira

Published

on

The Central Bank of Nigeria (CBN) on Wednesday expressed disappointment with Nigerian banks’ lack of commitment to the eNaira since President Muhammadu Buhari’s unveiling of the e-currency.

According to the CBN, commercial banks in Nigeria are not doing much to educate the Nigerians about the many benefits of eNaira platform.

Head, Finance Department of the CBN, Aminu Muhammad, an Assistant Director, made this known while speaking in Kaduna stressing that financial institutions that are under the purview of the CBN are supposed to play critical roles in growing the economy.

Muhammad was in Kaduna with other Officials of the CBN to lecture youth corps members, hundreds of students from tertiary institutions across the state and other members of the public on “onboarding of stakeholders on the e-Naira platform, has explained the operational benefits of the electronic currency.

Read also: CBN e-naira website hits 1m views in less than 24 hours, as similar domain owner wants N4.2m

Muhammad said: “Commercial Banks are lagging behind and that is why the CBN is coming in to intervene. For example, the information asymmetry like what we saw when they were talking about the e-Naira in Kano. Kaduna people had that awareness, earlier unlike in Kano, which is because of information asymmetry.”

He lamented that all the banks knew about e-Naira but members of the public do not know. Some people probably might be hearing it for the first time.

“There is an imbalance of information as regards the e-Naira, and that is why the CBN has come out to sensitize the public, give people the opportunity to come in so as to block that information asymmetry,” he added.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations