CBN Urge Nigerians to Embrace Alternative Payment Channels

The Central Bank of Nigeria, CBN, has urged Nigerians to embrace alternative payment channels like the eNaira and internet banking.

CBN Director, Corporate Communications Department, Osita Nwanusobi, explained that the new naira policy is not in any way targeted at any individual as being insinuated in the public domain.

Nwanisobi noted that the aim is to make the country’s monetary policy decisions more efficacious, stating that Nigerians could observe a downward trend in inflation, and the exchange rates have been relatively stable.

The Director assured that the Nigerian payment system infrastructure is robust enough to handle the surge in transaction volumes across all channels.