Finance

Coronavirus: CBN advises Nigerians to adopt alternative payment methods

The Central Bank of Nigeria (CBN) on Tuesday advised Nigerians to adopt alternative payment methods like electronic transfers to avoid the spread of Coronavirus.

The CBN Director of Corporate Communications, Mr Isaac Okoroafor, gave the advice in a telephone interview with the  News Agency of Nigeria in Lagos.

He said one of the ways people could contact the disease was by touching a surface or object that had the virus and then touching one’s mouth, nose or possibly the eyes.

“In times like this, it is advisable for Nigerians to adopt alternative payment methods such as electronic transfers, internet banking, USSD, etc, to avoid the disease – Covid-19.

“The Naira note is one surface that people touch every day. It will be wise for us to wash hands after handling money, especially if you are eating or touching food,” he said.

Okoroafor said these alternative payment methods with the benefits, were well developed and worked well.

He said: ”Its efficiency has minimised liquidity, settlement, systemic credit and operational risks which were inherent in financial transactions.

“It is secured, reliable, accessible, prompt and cost effective to meet all users’ needs. Nigerians should use it.’’

The CBN director reiterated the need for Nigerians to handle the Naira with care and pride, describing it as a symbol of our identity and value.

He warned Nigerians against stepping on, squeezing, defacing or staining the naira notes.

Okoroafor also warned that it should not be sold or counterfeited.

 

 

Related posts

Nigeria records N1.87tn trade deficit amid rising crude exports

Our Reporter

BOI, AFD sign $30m facility to boost Nigeria’s creative economy

Editor

E-bills payment falls by 44% over cash crunch – NIBSS

Editor

COVID-19 dropped Lagos economy by N2.3tr’

Our Reporter

Manufacturing trade deficit hits N27.33tn in two years -NBS report

Our Reporter

Forex: Average Nigerian can feed with N500, naira still strong –CIBN ex-president

Our Reporter