The Chartered Institute of Taxation of Nigeria, President, Adesina Adedayo in a webinar organized by the institute said that the introduction of the eNaira will bring down the incidence of tax evasion.
“With the implementation of the eNaira, it is expected that ultimately, tax evasion will be minimal as it seeks to ensure the traceability of tax assets and enforces transparency in the taxation system, thereby increasing government revenue,” Mr Adebayo said.
The Central Bank of Nigeria {CBN} unveiled the eNaira on Monday, October 25, 202. The government committed to providing a fast, safe, and simple way of transacting for Nigerians.
CITN Taxation Faculties Coordinating Dean Dr Mark Abani stated that the institute’s latest priority was to enlighten the populace on how important it is to adopt the eNaira in transactional activities.
Dr Abani projected that eNaira would contribute $29 billion to the Gross Domestic Product of the country over the next decade. He highlighted the government’s optimism that the adoption of the eNaira would boost commerce and financial inclusion in the Nigeria.
According to a report by Bloomberg on Monday, the eNaira wallet app had recorded 488,000 downloads.
So far, the digital currency has been used for NGN 62 million (US$150,000) transactions, this was disclosed by the spokesman of the Central Bank of Nigeria, Osita Nwanisobi.
The Governor of the Central Bank of Nigeria, Godwin Emefiele during the launch stated that about $1.2 million eNaira has been minted.
