The Central Bank of Nigeria has said that the eNaira is more
reliable than cryptocurrencies.
The CBN Director of Corporate Communications, Nnamdi
Okwuosa, said this at the CBN Fair to sensitise stakeholders and the general
public in Abia and Ebonyi States.
Okwuosa described the eNaira as a legal tender issued by a
sovereign nation and regulated by the Central Bank of Nigeria, whereas
cryptocurrencies are unregulated.
He said, “Digital currency (eNaira) is more reliable than
cryptocurrency which is not regulated.”
The fair themed ‘Promoting financial stability and economic
development,’ provided an opportunity for stakeholders and the general public
in the two states to understand the eNaira, consumer protection, currency
operations, payment system management, and development finance initiatives.
He added that the CBN was constantly keeping an eye out for
threats to Nigeria’s financial system, putting it in at a vantage point when
providing reliable economic advice, adding that people “must listen to us.”
Okwuosa stated that losing money to scammers and
unregistered financial institutions will be eradicated if people listen only to
the bank and avoid unregulated institutions.
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