CBN secures inclusive economic growth ahead of e-Naira launch – Nigeria – The Guardian Nigeria News – Nigeria and World News



Pegs loan deposit rate at 65%

The Central Bank of Nigeria (CBN) has said it will not rely on its oars to ensure inclusive economic growth and sustainable development through the introduction of the naira, which will soon be launched.

Director of Corporate Communications Department, CBN, Osita Nwanisobi, made it known at the 16th Abuja International Trade Fair hosted by the Abuja Chamber of Commerce and Industry (ACCI) this weekend. in Abuja.

He said the operation of the e-naira is secure, easily accessible, digitized and can be easily accessed through banks and other payment platforms.

Nwanisobi, who took reporters on a “Special Day with CBN” visit to the CBN trade fair pavilion, said that while banks and other financial service providers would be involved in the distribution of the currency , the umbrella bank will be the central authority in terms of minting and issuing the e-naira.

“In the coming days, the CBN will unveil the central bank’s digital currency (CNDC), the e-naira. The e-naira is the digital version of the legal tender of Nigeria with the same value as the fiat naira (physical notes in naira), ”he said.

He further explained that the bank continued to ensure a robust, safe, reliable, credible and efficient payment system in the country through the review of mobile money operations (MMO) and increased the loan / deposit ratio ( LDR), from 60% to 65% to encourage increased bank lending.



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