E-Naira: CBN Warns Nigerians On Potential Scarcity Of Naira Notes 

The Central Bank of Nigeria, CBN, on Friday, said the paper currency in the country would soon be out of circulation.

It urged market men and women to sign into the e-Naira.

Mr Godwin Okafor, the Delta State Branch Controller of CBN made this known on Friday at the popular Ogbogonogo market during the market sensitisation on e-Naira.

He advised the traders to key into the central bank’s e-Naira policy.

In his words, “We are here at the market today to sensitise the market people on the use of e-Naira. It is fully backed by CBN, unlike Bitcoin which has no legal backing.”

Dr. Aminu Bizi, CBN's consultant on e-Naira, said Delta was selected as the second state to sensitise market women on e-Naira after Lagos.

“We are here to sensitise market men and women, shop to shop on the use of e-Naira. CBN has gone behind ATM, POS, therefore, we are going to meet the Okada/tricycle union on this policy.

“Paper currency will soon be out of circulation because CBN spent money to print money and people abuse the currency in the market, spraying at the occasion, payment of Okada/tricycle and others and CBN is losing”

He said the use of e-Naira was effective, charges free unlike ATM and POS and cannot be hacked by fraudsters.