Barely twenty days after the Central Bank Digital Currency (CBDC) known as the eNaira took off, LinkedIn users have expressed their views on Nigeria’s first digital currency.
Responding to a poll by Fidelity Bank, the social media users explained that they understood that the digital currency is not cryptocurrency but the CBN should solely focus on its monetary policy.
According to one of them, “Central Banks of Nigeria in my view have no business getting involved in cryptocurrency. It is not their forte.
“They should concentrate on their job of managing the monetary policy space in their countries. Getting involved in digital currency spree is a huge distraction for the CBN in my view.”
Fidelity Bank, in the poll, said: “Central Bank of Nigeria recently launched Nigeria’s First Digital Currency E-Naira. But questions still linger in the minds of many average Nigerians. Let’s find out what you know about the E-Naira and educate you on it.”
Also responding to the poll, another LinkedIn user known as Samuel Osuala, said: “eNaira is far from being a cryptocurrency, but sadly most Nigerians see it as one.”
Shobayo Babatunde said: “What is the essence of the e-naira? It has no benefit as it can not be used to buy goods outside the country so as to reduce the naira to dollar price inflation, am sorry to say the e-naira is just a waste of Nigeria’s resources as nothing special is attached to the app.
“I thought the reason behind the app is to reduce the inflation of the naira to dollar and as well to remove the issue of naira to dollar black market things.”
According to Kunle Oye-Igbemo, “It is making naira available on electronic payment and transaction platforms for use at the official rate as a digital currency and for store of value and medium of exchange. It is a digital version of naira in cash. It’s not a cryptocurrency. Educate me more, please”