The Central Bank of Nigeria has said its newly launched e-Naira project is secure and dependable.
The Director of Corporate Communications, Mr Osita Nwanisobi, stated this while speaking at the ongoing CBN-Fair in Abakaliki on Thursday.
According to the apex bank, the security and dependability of the e-Naira stem from the fact that it uses cryptographic technologies encrypted with two factors for authentication.
The CBN, however, observed that the new digital financial project might pose some challenges to Nigerians in the short term because it works with Bank Verification Numbers.
Nwanisobi said, “The issue of security and dependability of the e-Naira platform is guaranteed. It is guaranteed because the technology uses cryptographic encrypted two factors of authentication. And so, the issue of whether the platform is secured is taken, as it is secured.
“The e-Naira project is a journey; we expect that there are going to be minor challenges in the short-term and I can tell you where some of these things are coming from. The e-Naira platform works with BVN and if I ask some people if they have email addresses, they would tell me they do not have.”