CBN APPROVES INCENTIVES FOR e-NAIRA USERS, MERCHANTS
The Central Bank of Nigeria (CBN) has made provision for incentives to encourage merchants and users in the adoption of the newly launched eNaira as a payment system of transaction.
Governor of the CBN, Godwin Emefiele disclosed it today in Abuja at the eNaira merchants mega event which formally brought in merchants into the eNaira platform.
Represented by the Deputy Governor, Economic Policies, Dr Kingsley Obiora, he said that the measures are subsidization of the current Merchant Service Charge by 50percent, provision of the required promotional marketing materials to merchants and activation of a nationwide sensitization which early business adopters of eNaira can leverage on to market its wider adoption.
He assured that the CBN will continue to innovate and upgrade the eNaira platform to serve businesses and deepen the digital economy in Nigeria.
“The CBN is already partnering with Fintechs and has also put in place a robust Help Desk to provide support for merchants and other users towards ensuring seamless adoption of the eNaira” he said.
The CBN governor maintained that there are ample opportunities for increasing business income through the adoption of the eNaira
He said the eNaira payment option on e-commerce merchant platform such as remita is expected to complement the existing digital payment system, translating to about 50 per cent increment in e-commerce transactions and at a lower cost.
He explained that the implementation of cross-border transactions in phase III of the eNaira project is expected to increase cross-border trade by about 30 per cent and the lower transaction cost is expected to increase the transaction volume and value usage of eNaira and improve income generation by businesses.
Speaking, the President of Abuja Chamber of Commerce and Industry, Dr Al- Mujtaba Abubakar, stated that the eNaira merchants mega event was “targeted at merchants, traders, cooperative societies, business association, supermarket, hotels, restaurant chains, service providers, private school owners, transporters, Small and Medium Business Enterprises amongst others, to help them understand the importance of the eNaira”
