₦airaland Forum

A socio-political activist, Reno Omokri has expressed pessimism that President Muhammadu Buhari’s call for foreign investors to invest in the newly launched digital currency, e-Naira may not yield fruit.

DAILY POST recalls that Nigeria became the first country in Africa to launch digital currency after President Buhari formally unveiled the e-Naira on October 25 at the Presidential Villa, Abuja.

The President subsequently solicited investment from foreign investors as a means of boosting the currency which was initiated by the Central Bank of Nigeria, CBN.

Reno, in a recent post on his verified Facebook page, said foreigners may not invest in the e-Naira following the ban placed on Cryptocurrency by the Federal Government.

According to Reno, Buhari banned cryptocurrency just to create his own (e-Naira).

He challenged the President to use the medium to remit civil servants’ remunerations as proof that the e-Naira is authentic.

The post reads, “To show how confused Buhari is, he banned #Cryptocurrency. Then created his own digital currency, and asked foreign investors, many of whom are heavily into crypto, to invest in e-Naira.

“It is like banning Scottish whisky then asking Scotland to invest in palm wine! If Buhari really believes in e-Naira, let him use it to pay his so-called repentant Boko Haram and see how long they stay repentant.

“Even his own government is not using E-Naira to process payments to civil servants, the military and police and N-power beneficiaries”.

Source:https://dailypost.ng/2021/11/01/cryptocurrency-why-foreign-investors-wont-be-interested-in-e-naira-reno-omokri/

Even the eNaira, can you even register?

Verification code hasn't arrived since last month.

By the way, I am available for research writing services that will pass Turnitin.

Reno fail to understand that the E-Naira is not Crypto currency, it is just digital ,but not a crypto. So they don't serve same purpose.

Pierocash:
Reno fail to understand that the E-Naira is not Crypto currency, it is just digital ,but not a crypto. So they don't serve same purpose.

What purpose does it serve?

E naira is just imitating the paper naira we have, it doesn't need investors to function.

It is not an asset or a cryto currency but an electronic version of naira.

There's nothing crypto about eNaira. Maybe just a digital currency, but nothing more than that.

thebosstrevor1:
E naira is just imitating the paper naira we have, it doesn't need investors to function.

It is not a asset or a cryto currency but an electronic version of naira.

What's the diffrence between E-naira and E-payment...

thebosstrevor1:
E naira is just imitating the paper naira we have, it doesn't need investors to function.

It is not a asset or a cryto currency but an electronic version of naira.

STOP DRINKING RAW COW MILK, YOU NOR GREE, NOW SEE AS YOU DEY REASON

OBALOLA55:
STOP DRINKING RAW COW MILK, YOU NOR GREE, NOW SEE AS YOU DEY REASON

it do be bussin doe

XXXXTENTACION:
What's the diffrence between E-naira and E-payment...

E naira is the instrument that will be used in the epayment system in the blockchain

E naira is a medium of exchange while electronic payment is the system that facilitates the payment of e naira.

thebosstrevor1:
E naira is the instrument that will be used in the epayment system.

E naira is a medium of exchange while electronic payment is the system that facilitates the payment of e naira.

seems you did'nt get the question...
What's the difference between using the E-naira and using bank apps to make payments...

XXXXTENTACION:
seems you did'nt get the question...
What's the difference between using the E-naira and using bank apps to make payments...

E naira works through the blockchain and it is 100% online. It also can be used for payment by Nigerians anywhere in the world, as long as they have e naira in their wallet they can send it to anyone that has the wallet, literally the e naira facilitates faster and cheaper transactions without the need to pay a gateway system that works with your bank app.

The bank apps is also electronic money, does not work in the blockchain, is mostly converted to paper fiat currency and transactions are limited, does not permit for international transactions between Nigerians except with the help of a third party. Its expensive for banks and also customers and mainly used for offline payments. Infact with the e naira, removes the need for a visa or Mastercard naira debit cards encouraged by the commercial banks.


E naira could eliminate payment gateway systems, or companies like opay and pos companies because it is a threat to their business.

thebosstrevor1:
E naira works through the blockchain and it is 100% online. It also can be used for payment by Nigerians anywhere in the world, as long as they have e naira in their wallet they can send it to anyone that has the wallet, literally the e naira facilitates faster and cheaper transactions when compared to your bank app.

The bank apps is electronic money, does not work in the blockchain, is mostly converted to paper fiat currency and transactions are limited, does not permit for international transactions between Nigerians except with the help of a third party.

Infact with the e naira, it removes the need for a visa or Mastercard naira debit cards encouraged by the commercial banks

What's the value of E-naira when compared to dollar...

XXXXTENTACION:
What's the value of E-naira when compared to dollar...

We don't use dollars in Nigeria. We spend in naira in Nigeria.

If you want to do international transactions, you can exchange it to the foreign currency you want with the existing exchange rate.

Reno is as confused as Buhari

E-naira is not a cryptocurrency

Just a Paypal or cashapp meme

KaluwisxPRO:
It is a cryptocurrency, but a stablecoin pegged to the Naira. So long as it can settle payments on its own without a third party facilitator, it is definitely on the blockchain network.

Stop spreading lies

It's a digital currency just like PayPal but government issued

Cryptocurrency is also a digital currency

But E-naira which is 200% bound to fail is not a cryptocurrency

thebosstrevor1:
We don't use dollars in Nigeria. We spend in naira in Nigeria.

If you want to do international transactions, you can exchange it to the foreign currency you want with the existing exchange rate.

What is the exchange rate of e-naira to dollar

XXXXTENTACION:
What is the exchange rate of e-naira to dollar

There is no where the government said that because of e naira, 1 naira will become 1 dollars


E naira is just electronic naira, exchange rates will still be the same.

thebosstrevor1:
We don't use dollars in Nigeria. We spend in naira in Nigeria.

If you want to do international transactions, you can exchange it to the foreign currency you want with the existing exchange rate.

That’s not accurate, when you use your debit card to transact online you’re using dollars, your bank will convert it. The only thing you can’t do is withdraw physical dollar without a domicilary account. Thats why all debit cards were limited on online transactions to $100 a month, because people were siphoning dollar to sell at marked up prices.

A pastor that surrounded himself with negative energy, evil wish just because he wants to be vindicated.

Pastor my foot

Is E-naira crypto currency? It's just another wallet for Nigerians in an alternative to bank account.

Over sabi na him kill monkey

thebosstrevor1:
There is no where the government said tgat because of e naira, 1 naira will become 1 dollars


E naira is just electronic naira, exchange rates will still be the same.

if the E-naira and the fiat naira have thesame value then what's the difference...

ElixExo:
That’s not accurate, when you use your debit card to transact online you’re using dollars, your bank will convert it. The only thing you can’t do is withdraw physical dollar without a domicilary account. Thats why all debit cards were limited on online transactions to $100 a month, because people were siphoning dollar to sell at marked up prices.

How does this relate with my comment??

XXXXTENTACION:
if the E-naira and the fiat naira have thesame value then what's the difference...

Wallahi!

E naira is just electronic naira. An imitation of your paper naira.

If you have 10 naira in paper, it is similar with having 10 naira in your ewallet.

thebosstrevor1:
Wallahi!

E naira is just electronic naira. An imitation of your paper naira.

If you have 10 naira in paper, it is similar with having 10 naira in your ewallet.

E-naira is juste a waste of recources...
they could have just print more naira notes...

thebosstrevor1:
E naira works through the blockchain and it is 100% online. It also can be used for payment by Nigerians anywhere in the world, as long as they have e naira in their wallet they can send it to anyone that has the wallet, literally the e naira facilitates faster and cheaper transactions without the need to pay a gateway system that works with your bank app.

The bank apps is also electronic money, does not work in the blockchain, is mostly converted to paper fiat currency and transactions are limited, does not permit for international transactions between Nigerians except with the help of a third party. Its expensive for banks and also customers and mainly used for offline payments. Infact with the e naira, removes the need for a visa or Mastercard naira debit cards encouraged by the commercial banks.


E naira could eliminate payment gateway systems, or companies like opay and pos companies because it is a threat to their business.

Hope you know that the bolded in your submission is a lie.

Enaira is the same as the money customers deposited at their various banks accounts across the country. They're are all in digital format, that's why a customer can easily access the funds either via mobile apps, ussd or debit/credit cards.

The only difference is that with enaira, you have a single wallet controlled by cbn where you can keep your funds. Instead of having multiple accounts with different banks, you can just keep the funds in your enaira wallet.

And also don't forget that the wallet has a maximum amount of money it can hold at any point in time.

XXXXTENTACION:
E-naira is juste a waste of recources...
they could have just print more naira notes...

How is e naira a waste of resources, something created to make life easier for every one.

Infact government can easily check mate fake currencies in circulation through the use of e naira.

Also government can easily control inflation and foreign exchange, this e naira is good for proper planning of the economy

HisSexcellency:
Hope you know that the bolded is a lie.

How is it a lie? ,enaira is CBDC...CBDC works through the blockchain.

A blockchain company was given contract for the job.

thebosstrevor1:
How is it a lie? ,enaira is CBDC...CBDC works through the blockchain.

A blockchain company was given contract for the job.

Can you increase the value of your enaira account without the transfer of equivalent naira amount into it?

thebosstrevor1:
How is e naira a waste of resources, something created to make life easier for every one.

Infact government can easily check mate fake currencies in circulation through the use of e naura.

Also government can easily control inflation and foreign exchange, this e naira is good for proper planning of the economy

In a simple sentence please explain how the government can use e-naira to reduce inflation....

thebosstrevor1:
E naira works through the blockchain and it is 100% online. It also can be used for payment by Nigerians anywhere in the world, as long as they have e naira in their wallet they can send it to anyone that has the wallet, literally the e naira facilitates faster and cheaper transactions without the need to pay a gateway system that works with your bank app.

The bank apps is also electronic money, does not work in the blockchain, is mostly converted to paper fiat currency and transactions are limited, does not permit for international transactions between Nigerians except with the help of a third party. Its expensive for banks and also customers and mainly used for offline payments. Infact with the e naira, removes the need for a visa or Mastercard naira debit cards encouraged by the commercial banks.


E naira could eliminate payment gateway systems, or companies like opay and pos companies because it is a threat to their business.

Your second paragraph contradicts the first.

dettolgel:
Can you increase the value of your enaira account without the transfer of equivalent naira amount into it?

You don't need to transfer any equivalent naira amount into it....it works just like your bank account.

People can transfer naira into your wallet. if you create a service, you can put the price in naira and give out your wallet address and people will pay into it.


Your e naira wallet is just like your bank account
Your wallet address is just like your bank account number.

This is what i guess will happen.

Every bank account holder in Nigeria will be assigned an e naira wallet that will be linked to your bank account. You can use anyone you are comfortable with

You can transfer cash from your bank account to your e naira wallet account, if you want physical naira, you can transfer from your e naira wallet to your bank account and cash it out through the atm.

Jeffrizzy01:
Your second paragraph contradicts the first.

In what way?