CBN Frowns At Commercial Banks Over E-Naira

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The Central Bank of Nigeria (CBN) has frowned at the commercial banks for not doing much to educate Nigerians about the recently launched e-Naira platform.

Officials of the CBN, who were in Kaduna on Wednesday 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, explained the operational benefits of the electronic currency.

Head, Finance Department of the CBN, Aminu Muhammad, said financial institutions that are under the purview of the CBN are supposed to play critical role roles in growing the economy.

Speaking at the CBN Fair, which was held in Kaduna and also featured real-time Kano version of the Fair simultaneously, Muhammad said the commercial banks were not effective on issues relating to the e-Naira.

According to him: “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 said another reason for their intervention was because there is a lack of appropriate financing products and services in the banks.

– Punch

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