The Good & Side Effect of Nigeria Newly Launched Digital Currency.

E-Naira is the first nigeria digital currency held to launch in 2021 , it is held by the central bank of Nigeria for the digital transaction purpose among citizen of the country.

The Digital currency is like a online currency that will use like cash for transaction purpose. Everything in life always has good and bad sides , we will be checking on the good & bad sides of Nigeria digital currency. 

 GOOD SIDES. 

 1. IT IS SAFE. 

is the E-Naira digital currency safe? Yes it is very safe , it has a two authentication factors that notify customer with whenever they want to login and acess their account.

 2. IT CAN BE CONNECTED TO BANK ACCOUNT. The new E-Naira can be connected to individual bank account , it allows every user to identify their bank of choice for transaction purpose.

 3. REDUCTION OF CASH. 

Digital currency helps in reducing cash at hand , and your money is kept in the wallet. 

 4.FAST TRANSACTION It enables rapid and fast transaction , as far as anything digital is concerned , it will enable fast process of transaction and abort delay caused by financial institution.

 5. DETECTION OF FRAUD. 

The central bank has actually set this up not for the purpose of the beneficial benefit , but it is actually digital to look into the fraud activities going on in the country and this will be beneficial to most of the citizen 

BAD SIDES.

 1.NETWORK DIFFICUITY 

The nigerian network services (poor network services)is a threat , which will make every Individual experience difficuities in transacting with each other , network difficult will not makes the transaction flow and the delivery of funds will not be approved.

 2. INVADING PRIVACY. 

Nigeria country from onwards has been rude to citizen on the privacy sides , even starting from the police to citizen it has been another story entirely , but the police online to invade into our financial privacy will be this E-Naira digital currency , the central bank might invade into citizen privacy which is not supposed to be like that.

 3. HACKING 

 The network security must be solid or else it may be hacked by online hackers who are online for network cyber crime and they might cause rudement in financial clauses of individual. 

 4. TRANSACTION FAILURE TRANSACTION FAILURE may arise , debit and credit , reversal and bank errors , that is one of the unbeneficaial aspect , and this has to be attended to Urgently and if possible reach out to customers support immediately for clarity and settlement. 

 SOURCE : TOSINAIJA