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Thursday 4 November 2021

E-Naira more reliable than cryptocurrencies - CBN

The CBN Director of Corporate Communications, Nnamdi Okwuosa, said this at a recent event 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.”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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