eNaira will speed up rate of Nigeria’s financial inclusion-Emefiele


The Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, has expressed optimism that the Bank would soon achieve the 85% financial inclusion rate target in Nigeria.

While receiving a delegation of executive directors from the Bank of Uganda, who were on an experience sharing tour of the Central Bank Digital Currency (CBDC), in Abuja, the CBN boss added that the acceptance of the eNaira will speed up the rate of financial inclusion in the country.

Emefiele said he is satisfied that the country’s CBDChas recorded success as seen in the rate of integration and security features.

He stressed that the CBDC will enhance the relationship between mobile banking and e-business and speed up the rate of financial inclusion.

The CBN Governor also noted that the interest the novel eNaira was attracting from other countries and multinational bodies such as the International Monetary Fund (IMF) and the World Bank, underscored the level and quality of work the CBN had put into the project.

Although he noted that Nigeria, being the first country in Africa to launch its CBDC, was a case study to other climes, he said the country was treading cautiously to ensure it sustains the successes recorded thus far.

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