Nigerians can use e-Naira without Internet, says CBN
The Central Bank of Nigeria has said the e-Naira will be available to Nigerians without Internet-enabled phones. The CBN disclosed this in a document with the title ‘Design paper for the Naira’.
He said, maximizing the value and use cases of the e-Naira would depend largely on devices with Internet capabilities.
“The e-Naira thus risks further alienating sections of the population who are uneducated, lack exposure and access to internet services or digital devices”, it said.
It noted that the National Commission for Mass Literacy, Adult and Non-formal Education estimated that 35 per cent (37.1 million) of the nation’s adult population was illiterate, adding that the CBN risked losing adoption to this segment of the population.
“To mitigate this risk, the bank factored in the need for inclusiveness as part of the core design principle of the e-Naira. This principle has enabled the bank to focus on simplicity and ease of use, ensuring that Nigerians without Internet-enabled phones can access the service”, the CBN added.
The apex bank said the e-Naira would compliment existing payment options available via the mobile banking apps, Point of Sale terminals, USSD, quick response code and Internet Banking among other channels.
GSMA, a global industry organization that represents the interests of mobile network operators, had said in recent report that 19 per cent of people living in Nigeria and other sub-Saharan African countries did not have access to mobile broadband coverage.
According to the organization, about 47 per cent (210 million people) in sub-Saharan African do not use mobile internet.
In its design paper, the apex bank said, to ensure inclusive access while also ensuring the integrity of the financial system, the account-based Central Bank Digital Currency model has been chosen for the e-Naira.
