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Justice Taiwo Taiwo of a Federal High Court in Abuja has given to the launch of e-Naira by the Central Bank of Nigeria.
When the matter came up on Thursday,principal counsel of the apex bank,D.D.Dodo court to strike out the Plaintiff’s Motion Exparte seeking to restrain the launch of the Defendant’s digital currency in view of its significance to the nation’s economic advancement.
The court was not disposed to striking out the plaintiff’s motion exparte but was of the view that the launch of the digital currency should go ahead in the nation’s interest and the economic advancement of the country,since the plaintiff can be adequately compensated in damages.
The matter was adjourned to 11th October, 2021 for further hearing.
Spokesman of the Central bank of Nigeria (CBN), Mr. Osita Nwanisobi, says the planned unveiling of the eNaira on October 1, 2021 has now been deferred due to other key activities lined up to commemorate the country’s 61st Independence Anniversary.
He explained that the apex bank took the decision to postpone the launch, which had been initially planned to coincide with the Independence anniversary, in deference to the mood of national rededication to the collective dream of One Nigeria.
Assuring that there was no cause for alarm, he said the CBN and other partners were working round the clock to ensure a seamless process that will be for the overall benefit of the customer, particularly those in the rural areas and the unbanked population.
Speaking on the benefits of the eNaira, Nwanisobi stressed that Nigerians would be able to carry out peer-to-peer transfer to another person’s eNaira wallet as well as pay for goods and services at selected merchants. He added that the eNaira would also help reduce the use of cash and ensure stability of the Nigerian economy.
He also spoke on the readiness of banks and other financial institutions in the financial ecosystem for the launch of the eNaira and reiterated that eNaira was a journey, explaining that not all banks customers were expected to commence transaction on the day of the launch. He, however, assured that financial institutions in Nigeria remained key actors and were a critical part of the Central Bank Digital Currency (CBDC).
He noted that the CBN was mindful of concerns expressed about the eNaira, being among the first CBDCs in the world. According to him, the bank had put a structure in place to promptly address any issue that might arise from the pilot implementation of the eNaira.
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