The e-naira which will be launched on October 1, is a legal tender equal to the naira and must be accepted as a form of payment by all merchants and business establishments.
Mr. Musa Jimoh, the CBN Director of Payment System Management, stated this during an appearance on Channels Television’s “Business Morning.”
Jimoh said, “Today, anywhere you present naira to pay, compulsorily it must be accepted because that is our fiat currency. So, the same way naira is accepted that you can’t reject it, is the same way e-naira must be accepted. Anywhere in this country where e-naira is presented, it must be accepted. So, merchants must accept e-naira as a means of payment.”