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eNaira: Secure, Dependable In Spite Of Challenges – CBN

October 30, 2021
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Central Bank of Nigeria, CBN, has said that though the eNaira may currently have some challenges, it remains secure and dependable.

Director of Corporate Communications, Osita Nwanisobi, made this known while speaking at the ongoing CBN fair in Abakaliki, Ebonyi State.

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He explained that the security and dependability of the e-Naira stems from the fact that it uses cryptographic technologies encrypted with two factors for authentication.

However, he said the digital currency might pose some challenges to Nigerians in the short term because it works with Bank Verification Numbers, BVN.

“The issue of security and dependability of the e-Naira platform is guaranteed. And so, the issue of whether the platform is secure is resolved, as it is secure.

“The e-Naira project is a journey; we expect that there are going to be challenges in the short-term and I can tell you where some of these things are coming from.

“The e-Naira platform works with BVN and if I ask some people if they have email addresses, they would tell me they do not have.”

He warned Nigerians to avoid unregulated financial schemes propagated by fake Ponzi operators, saying this had robbed them of their hard-earned money.

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Kayode Shopekan

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