CBN Harps on Benefits of E-Naira, Debunks Claims of Suspending OPAY, PALMPAY Accounts
The Central Bank of Nigeria ( CBN) has disclosed that the E- naira was introduced to reduce the physical cash in transactions and promote the adoption of digital payments.
The Acting Branch Manager of the bank, Mr Samuel Giwa, made this known at the palace of the Deji of Akureland, Oba Aladetoyinbo Adedelusi, during an advocacy on usage of eNaira platform, a digital currency.
Speaking on the benefit, Giwa said, ”the policy, would increase financial inclusion, reduce corruption and money laundering, and improve the efficiency of the financial system.”
He added that “The eNaira is not just a currency, but an important step towards building a more robust and secure financial ecosystem.
“It was designed to make transactions easier, efficient, and more secure.
“The eNaira has indeed become a critical part of the Nigerian financial ecosystem, and an alternate channel.
“It will not only support the Ondo State economy, but Nigeria as a whole;
a symbol of progress and innovation and will pave the way for a more secure and efficient financial system,” he stated.
On a different note, the apex bank has made clarification on the viral reports that it has suspended accounts of some Fintech companies like OPAY and PALMPAY.
The bank debunked the reports, describing it as fake news.
According to the News Agency of Nigeria (NAN), this was made known by the Acting Director, of Corporate Communications of CBN, Mr. Isa AbdulMumin, on Friday, March 24, 2023, in Abuja, where he said that the viral news “is simply fake’’.
The viral news credited to AbdulMumin claimed that the CBN was about to suspend accounts of the Fintech companies because they were being used to perpetrate fraud.
The viral news partly read, “Please if you are using OPAY, PALMPAY or any of these CHINA APPs or their POS, stop keeping much money in the account or stop using it.
“The CBN is about suspending their accounts because these apps are being used to perpetrate fraud.’’
Similarly, OPAY and PALMPAY had in separate social media messages denied being under the radar of the CBN.
OPAY had stated that, “the post mentioning the CBN shutting down our operations is false and misleading to the general public.’’
PALMPAY also posted a similar disclaimer stating that “We are aware of news currently being spread on social media about CBN shutting down the operations of PALMPAY.