CBN takes eNaira sensitization drive to women in UNILAG

Central Bank of Nigeria (CBN) has taken the sensitisation drive of eNaira to women during the Law Ladies Day programme at the University of Lagos (UNILAG) Yaba Lagos.

The initiative is to further promote the adoption of eNaira, the country’s central bank digital currency (CBDC) to women, students, law students and other Nigerians who gathered for the 2023 Law Ladies’ Day programme in UNILAG, Yaba Lagos.

In line with the Law Ladies’ Day programme themed: Defying stereotypes: Celebrating the different shades of femininity, CBN used the occasion to reach out to students and others within the university campus to sensitise them on the benefits and importance of eNaira transactions and why they should use the channel.

 The Special Adviser Payment Systems to the Governor, Central Bank of Nigeria, Mary Fasheitan, who took women through the importance of eNaira, the advantages and opportunities the digital currency offers to the financial community and women, stated that it was high time women embraced eNaira for transactions.

According to her, eNaira offers financial freedom and women inclusivity which other financial instruments do not provide. It offers fast transaction time, and cross-board payment options and gives women financial inclusion.

She said, “eNaira provides a unique form of money denominated in Naira. eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments. It has an exclusive operational structure that is both remarkable and nothing like other forms of central bank money.”

She observed that the whole world was going digital, hence the CBN was responding appropriately to the innovation by introducing a lot of cashless policies, of which eNaira is one, noting that the Central Bank in Nigeria is the first to introduce e-Naira in Africa and only the second in the world.

Fasheitan encouraged female law students to embrace eNaira and transact with it because it is safe, secure and fully digitalised. “You have nothing to be afraid of because it is one of the most secured channels from the apex bank for transactions.”

Also speaking at the event, the Managing  Partner of Hilton Top Solicitors, Deborah Enyone Oni said that eNaira is a great innovation of CBN that should be lauded.

According to her “eNaira offers various advantages and opportunities to its users. Its blockchain technology feature also enables users to make cross-border transactions easily. she reiterated that the eNaira will foster women's financial and economic empowerment

Speaking on the sensitisation exercise, Enyone Oni said, "We have partnered with the CBN on the eNaira and one of our main focuses is to leverage the opportunity to empower women by sensitizing them on the advantages of the eNaira in light of digitalisation".

"Conversations about women's financial and economic empowerment should be considered a priority especially in women-focused programs like this so as to expose them to the opportunities they can leverage and as such be able to participate and harness the opportunities in a digital economy", Enyone Oni added.

Conclusively, students were onboarded on the eNaira and they were excited to learn about the central bank's digital currency and its benefits.

A student, Kehinde Adeaga said, “Until now, we were not clear on what eNaira is but the explanation by the team has made it very clear to us. Some of us have already keyed into the project and we will spread this good news to others who are yet to understand the benefit and opportunity eNaira offers.”