Naira

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

The CBN Director of Corporate Communications, Mr Isaac Okoroafor, during a telephone interview with NAN in Lagos gave the advice of using alternative payment method since Coronavirus can easily be transmitted by touching surface or objects 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.’’

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