Cashless policy: FG urged to pay workers, contractors with eNaira

The Federal Government has been urged to use the Central Bank of Nigeria-issued digital currency – eNaira, to pay workers’ salaries as well as contractors handling various projects as part of measures to boost its cashless policy. The Chief Executive officer of indigenous tech firm BULLNET, Bayo Akintoye, who disclosed this at a media parley […]

The Federal Government has been urged to use the Central Bank of Nigeria-issued digital currency – eNaira, to pay workers’ salaries as well as contractors handling various projects as part of measures to boost its cashless policy.

The Chief Executive officer of indigenous tech firm BULLNET, Bayo Akintoye, who disclosed this at a media parley in Lagos, said the adoption of the USSD channel of the eNaira can be employed to soothe the pain felt by Nigerians given the current scarcity of cash as the country transits from a predominantly cash-based economy to a cashless one.

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He stressed that the eNaira USSD channel which is fully run and powered by BULLNET platform is secured and can be used in areas without internet access.

The coordinator, eNaira at the CBN, Rakiya Mohammed, said the digital currency was introduced to improve financial inclusion, increase cross border transactions, diaspora remittances and to complement existing payment infrastructure.

Represented by Otaru Abdulkadir, Project Coordinator, eNaira Giant Team, Mohammed commended BULLNET for introducing the USSD feature.