Breaking: Buhari launches e-Naira

Buhari writes NASS, to present 2022 budget tomorrow

…As CBN announces new “100 for 100” instrument

President Muhammadu Buhari has launched the Central Bank of Nigeria (CBN) digital currency, the e-Naira.

While launching the digital currency, at the State House, Abuja, this afternoon, the president commended the CBN Governor, Mr Godwin Emefiele, for his efforts towards ensuring a more efficient payment system in the country.

In his address, Mr Emefiele announced a new financial instrument titled “The 100 for 100 PPP – Policy on Production and Productivity,” to reduce the nation’s overdependence on imports.

According to the governor, the instrument, “will be anchored in our Development Finance Department under my direct supervision.

“Under this policy, the CBN will advertise, screen, scrutinize and financially support 100 targeted private sector companies in 100 days, beginning from 01 November 2021, and rolling over every 100 days with a new set of 100 companies, whose names will be published in National Dailies for Nigerians to verify and confirm.

“The purpose of this instrument is to take further steps to reverse our over-reliance on imports.”

Vanguard