Why eNaira Is An Exercise In Futility – Reno Omokri

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Reno Omokri

A former aide to ex-president Goodluck Jonathan, Reno Omokri has described the eNaira launched by the Central Bank of Nigeria as an exercise in futility.

VANTAGE NEWS reported yesterday that President Muhammadu Buhari launched the eNaira platform, which the CBN Governor, Godwin Emefiele described as the first in Africa and one of the earliest around the world.

While many Nigerians don’t know yet what to think about this new platform, Omokri has come out to explain why the eNaira launch is unnecessary.

READ ALSO: Finally, Buhari Launches eNaira

Reacting on his Facebook page, Omokri wrote, “It is not a cryptocurrency, because it has no miners or blockchain secured ledger. It is very unnecessary, because Nigeria went cashless under Jonathan. It will have no effect on the value of the Naira because it is not tied to production.”

eNaira
Buhari and Emefiele at the launch of eNaira

He also criticized the roll out of the digital currency, describing it as shoddy, uncoordinated as well as lacking useful information.

“Even the roll out was shoddy and uncoordinated. Very little information was given to the public. Without information, how do you expect to convince anyone to buy into the e-Naira? And they say they want International investors to buy into it. Who will buy into a digital currency issued by a government that banned Cryptocurrency and Twitter? The whole concept is as confused and clueless as the man in white in the attached photo.”

The CBN said the eNaira is a culmination of its several years of research work in advancing the boundaries of payments system in order to make financial transactions easier and seamless for every stratum of society.

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