Five Million Growers across Northern States in both wet and dry Husbandry seasons in 2023-2024 to benefit…in an alliance formed by the Central Bank of Nigeria and the Association of Northern Agricultural and Allied Commodities Practitioners inducted the Agro eNaira Wallet Rendezvous

By Abdul Rahman Bangura-

Nigeria’s President Buhari and Central Bank Governor Emefiele
Photo Credit: TechCabal

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– During the blastoff of the Agro eNaira Wallet in the Ola, Adamawa State, during the weekend, the National President of ANAACOP – Alhaji Sadiq Umar Daware, told the enterprise marks one million growers across the northern states for the first year of the 2023 dry and wet seasons and four million planters for the 2024 seasons.

According to Delaware, under the intervention agriculturalist would affirm eNaira wallet budgets with a sub-wallet account precisely for the programmable intervention and fulfill their information to facilitate them to access soft loans.

He said 50 planters were brought from the Ribadu cluster in Adamawa to test the program for onward advancement across the Northern States. Delaware further clarified that, the program had observed agro-dealers, processors, and the CBN to unearth simple ways of distribution of budgets to growers. He expanded that the strategy would give smallholder growers the policy to get loans with no snags
leveraging their eNaira wallet, ensuring that, it would reduce challenges hitherto encountered by agriculturist.

The Chief Launcher and Central Bank of Nigeria Governor – Godwin Emefiele touted the ANAACOP for the ambition, interpreting it as the major of its kind bent on in boosting local planters with farm tools through their eNaira wallet. Emefiele, who was exemplified by Hajiya Rakiya Mohammed – Director of Information and Communication Technology (ICT) of the CBN, discerned that, the grand notion of the digital currency of the apex bank was the first in Africa and second in the world.

Talking on behalf of the heirs, Malam Mijinyawa Mahmud dubbed for more subsidy to growers so as to achieve endurable food security and make the nation net exporter of raw materials. In was, the meantime, Ami subsidies cash scarcity in the nation, the CBN has regurgitated that the mode of an eNaira wallet would deal with the shortage of cash in the country.

Speaking at the weekend, at the Palace of the Deji of Akure and Oja Oba Market in Akure, while sensitizing traders and people of the state on the need to embrace the cashless platform for transactions, the Acting Branch Manager of CBN in the state, Mr. Samuel Giwa, said the policy was an initiative spearheaded by the CBN which aimed to reduce the physical cash in transactions and promote the adoption of digital payments. Samuel Giwa stated that, the policy which was introduced in 2021, would boost financial inclusion, reduce corruption, and money laundering, and improve the efficiency of the financial system.

The eNaira is not just a currency but an important step towards building a more robust and secure financial ecosystem. It was designed to make transactions easier, efficient and more secure. The eNaira has become a critical part of the Nigerian financial ecosystem and an alternate channel. It will not only support the Ondo State economy but Nigeria as a whole; a symbol of progress and innovation and will pave the way for a more secure and efficient financial system,” he told.

The acting branch manager said that as a people-focused central bank, the regulatory bank understood the current challenges associated with the implementation of the currency redesign policy, adding that the bank was currently making efforts to address them.

“However, to provide succor, we urge the people of Akure and Ondo State generally to download the entire Speed Wallet for easy payment for goods and services, as well as have convenient access to banking services,” he said.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent