Nigerian businesses signing on to become enaira merchants are said to have an opportunity to increase the volumes of their respective e-commerce transactions by 50%. cbdc digitalcurrency
The Central Bank of Nigeria has said it is slashing transaction fees for the e-naira platform by 50% — a move which the bank claims will increase the volume of transactions on the central bank digital currency platform. The central bank also believes that wider adoption of the CBDC will bolster Nigeria’s cross-border trade volumes.
In addition, Nigerian businesses signing on to become e-naira merchants have an opportunity to increase the volumes of their respective e-commerce transactions by 50%, a report has said.suggests that Nigerian businesses adopting the CBDC could improve cash management and potentially boost the country’s cross-border trade volumes. Obiora said:
Also, the implementation of cross-border transactions in phase 3 of the e-naira project is expected to increase cross-border trade by about 30%. Furthermore, the lower transaction cost is expected to increase the usage of eNaira and improve income generation by businesses.The remarks by Obiora, who reportedly spoke at a merchant onboarding event, come just days after CBN Governor Godwin Emefielethat the CBDC had less than 1 million users. However, as reported by Bitcoin.
To achieve this, Emefiele said the central bank would add a feature that enables users without bank accounts and smartphones to access the CBDC. The CBN has sinceRegister your email here to get a weekly update on African news sent to your inbox:
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