Liberal Mind

e-Naira: Elixir to reboot Nigeria’s Economy

By Adetunji Ayo-Brown
Unfolding in our world, e-naira a preparation to reboot Nigeria economic system through its digital innovative policy. Highly anticipated but less known. Naira may not necessarily need to change but its electronic form is capable of turning things around in every Nigerian lives.
The Central Bank Digital Currency (CBDC) adoption and underlying technology called blockchain has the capacity of increasing Nigeria’s Gross Domestic Product, GDP, by $29 billion over the next 10 years as predicted.
That eNaira would be available without Internet-enabled phones is commendable, though maximising the value and use cases of the eNaira would depend largely on devices with internet capabilities.
Moving many more people and businesses from the informal into the formal sector, thereby increasing the tax base for the country. eNaira to complement existing payment options available via the mobile banking apps, Point of Sale terminals, USSD, quick response code and Internet banking, among other channels.
Adaptation of technology in progress, the Federal Government of Nigeria can flip e-naira coin to turn around Nigerian lives from poverty to abundance and win it all. Huge boost to individual financial credibility using electrical signals and algorithm jargons to create big values in reality.
Nation can be defined as a body of people with share common purpose of nationalism. Though subjected to debate, most Nigerians are genuinely attracted to money in any form.
If time can be turn to a currency, Nigerians are ready to earn and spend it because many had suffered unduly from manmade, selfishness-induced poverty in country.
FG should start sending monthly direct payments to all eligible citizens under the national welfare programme, after all Nigerians can use e-naira without Internet, CBN assurance
The right purpose is to choose own specific purpose, because what other specific purposes are better than national welfare. Now that trust is a devalue currency in Nigeria, let