By Babajide Okeowo
The Central Bank of Nigeria, (CBN) has revealed that the security around the country’s digital currency, the e-Naira, has been strengthened and that the latest invention by the apex bank is hack-proof.
According to the director of corporate communication of the apex bank, Osita Nwanisobi, steps have been taken to secure the recently launched digital currency from cybercriminals.
Nwanisobi was speaking at a Central Bank event with the topic: “Promoting Financial Stability and Economic Development expresses displeasure that commercial banks are ignoring eNaira a month after launch.
The spokesperson of the bank said the e-Naira will handle challenges in the financial institution, cross-border problems, taxation and diaspora remittance relationships. Nwanisobi said a tougher stand has been taken against hackers who might target the e-Naira and protect the financial industry.
The new measures will make it very hard for any cybercriminal to break or penetrate customers’ accounts.
It is no longer easy for cybercriminals to be allowed to have a field day and smile home with people’s sweat, Nwanisobi said.
According to Nwanisobi the e-Naira is the digital version of the physical Naira, the only difference being that, while one is physical, the other one is virtual.
According to him, there is cash payment, electronic payment and now digital payments, all aimed at reducing hardship faced by bank customers at the point of transactions with their bank or other banks, he said.