President Buhari Swears In Two INEC Commissioners

President Muhammadu Buhari on Monday swore in two National Commissioners of the Independent National Electoral Commission (INEC).

Naija News reports that the two are part of the six cleared by the Senate in July this year.

Recall that President Buhari had on September 15, 2021, sworn in three of the cleared National Commissioners.

The swearing-in took place before the official launch of the eNaira and 2022 Armed Forces Remembrance Day emblem.

According to a statement sent to Naija News, signed by Buhari’s Media Adviser, Femi Adesina, the new National Commissioners are Prof. Muhammad Sani Kallah (Katsina State) and Professor Kunle Cornelius Ajayi (Ekiti State).

Meanwhile, Nigerian digital currency, E–Naira has been officially launched today at the States House in Abuja by President Buhari.

Present at the unveiling were the Vice-President, Prof. Yemi Osinbajo, and the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, Naija News understands.

The E-Naira will hold equal value with the paper currency and will be issued by the CBN.

Nigerian authorities say the currency is not intended to replace cash but will function as a safe and efficient alternative means of payment.

The eNaira will be a Central Bank Digital Currency (CBDC), issued by the government, and it will have the same value as the paper, or fiat, currency.

It is understood that CBDCs is far different from cryptocurrencies in being regulated and therefore subject to banking laws. They are issued by a central authority and are therefore trusted by traders. The CBN issued its regulatory guidelines for the eNaira on 1 October.

Naija News understands also that the E-Naira value will rise or fall in relation to the dollar in the same way as the fiat currency.