As per reports, the Central Bank of Nigeria (CBN) will allow Nigerians to use the eNaira to pay bills, Cable membership, and plane tickets. The initiative is part of an attempt to promote the financial product and enable people to use it more frequently in their everyday transactions.
It is fair to conclude that Nigeria, Africa’s most populous country, is among the leaders in CBDC activities. The eNaira was established last year with the tagline “Same Naira, More Possibilities”. The country’s central bank expressed optimism that the product will make financial transactions “easier and more smooth for all strata of society”.
According to recent reports, the CBN will enhance its CBDC in the coming weeks, enabling the public to use it to pay bills, travel tickets, and Internet and Tv subscriptions. To accomplish this, the banking firm collaborated with the mobile banking firm Bizi Mobile.
More information was provided by Bariboloka Koyor, Deputy Director at CBN:
“Starting from next week, there is going to be an upgrade on the eNaira speed wallet app that will allow you to do transactions such as paying for DSTV or electric bills or even paying for flight tickets.“
As a result of the improvement, the bank claims that more Nigerians will become aware of the product. They should also begin utilising it as a means of payment more frequently, thereby strengthening its presence throughout the country.
Bariboloka Koyor, Deputy Director at the CBN concluded that:
“This is a project that the CBN has rolled out to reach out to every Nigerian in terms of financial inclusion and in terms of efficiency, reliability, and safety of banking transactions so that we can do banking transactions very easily and safely and the people in Nigeria can enjoy the benefit of the eNaira”.
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