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Naira Notes Will Be Out Of Circulation Soon, Says CBN Official

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The Central Bank of Nigeria (CBN), has said that paper currency will soon be out of circulation and urged market men and women to sign into the the apex bank’s e-Naira.

The Delta State Branch Controller of CBN, Mr Godwin Okafor, dropped the hint, Friday during the market sensitisation on e-Naira at the Ogbogonogo market.

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

CBN’s consultant on e-Naira, Dr. Aminu Bizi, said Delta was chosen as the second state to sensitize 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”

Bizi urged them to embrace the use of e-Naira, saying it was effective, cannot be hacked by fraudsters and charges free unlike ATM and POS.

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