CBN calls on FG to transfer N368.8 Billion to poor Nigerians using the e-Naira

By: Damian Okonkwo

The Central Bank of Nigeria (CBN) has called on the federal government to transfer the sum of N368.8 billion to poor Nigerians through the newly introduced e-Naira in the execution of its National Social Safety Net Programme Scale Up, to encourage the use of the e-naira at the grassroots. This was revealed by legit.ng a popular newspaper operating in Nigeria today.

This is seen in the CBN's National Fintech Strategy document designed by the National Financial Inclusion Steering Committee chaired by Godwin Emefiele - CBN governor.

According to Emefiele, the transfer of funds to the poor via the e-Naira platform will help to alleviate poverty in the country and also promote financial inclusion. He noted that the e-Naira is a secure, fast, and efficient means of transferring money, and it has the potential to revolutionize the country's financial system.

Emefiele further explained that the e-Naira will allow for instant transfers, making it easy for the government to send money to beneficiaries in real time. He also assured Nigerians that the e-Naira is backed by the full faith and credit of the federal government, making it a safe and reliable means of conducting transactions.

The CBN Governor also stated that the e-Naira platform is designed to cater to all segments of the population, including those who do not have access to smartphones or the internet. He revealed that the CBN is currently working with various stakeholders, including telcos and other financial institutions, to ensure that the e-Naira is accessible to all Nigerians.

Furthermore, Emefiele emphasized the need for Nigerians to embrace the e-Naira, as it will not only promote financial inclusion but also boost the country's economy. He urged Nigerians to support the government's efforts in using the e-Naira to drive financial inclusion and reduce poverty in the country.

In all, the CBN's call on the federal government to transfer funds to poor Nigerians via e-Naira is a significant step towards achieving financial inclusion and reducing poverty in the country. With the e-Naira platform, Nigerians can now receive funds from the government in real time, making it easier for them to meet their basic needs. It is expected that more Nigerians will embrace the e-Naira and use it for their daily transactions, thereby promoting financial inclusion and boosting the country's economy.