The Central Bank of Nigeria has stated that it wants firms in the country’s payment industry to create and assist in the introduction of goods based on the e-naira, the country’s central bank’s digital currency.
The CBN has invited payment service providers, financial institutions, and fintech companies to create and promote products based on the e-naira in order to increase its acceptance.
Rakiya Mohammed, the CBN’s director of the information technology department, made this request during the central bank’s one-day meeting held with financial institutions and fintech startups.
Mohammed is said to have assured attendees at the meeting that the central bank is not in competition with banking institutions or other payment system operators.
Instead, Mohammed stated that the CBN is open to comments or initiatives that enhance customer experience or contribute positively to the e-naira.
Mohammed is also said to have pushed payment service operators in the country to come up with new ways to assist members of the general public with the induction program.
She also urged service providers to come up with solutions that facilitate offline e-naira activities, such as cards, wearables, and USSD, among other things.
Furthermore, claims that the CBN is urging players in the Nigerian payment industry to endorse the CBDC come as another magazine quotes the bank’s anti-cryptocurrency governor, Godwin Emefiele, as saying that more people are downloading the e-naira wallet program. Since the CBDC’s inception over a month ago, about 600,000 wallet apps have been downloaded, according to him.
Meanwhile, Emefiele, like the CBN’s information technology director, believes that financial industry participation will be crucial if the CBN is to meet its target of accelerating the acceptance of the e-naira by Nigerians without cellphones.
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