FACAN Set To Onboard 50 Million Members On eNaira Platform

The Federation of Agricultural Commodity Association of Nigeria (FACAN) the apex umbrella body for Agricultural Commodity Associations in the country has concluded a plan to register and onboard all its associations and members on the eNaira platform in a strategic partnership with Araba technologies Ltd (Arabatech).

The plan is a fallout from the recently concluded national meeting of the association’s National Working Committee and presidents of Associations under its jurisdictions held on the 29th of September this year, with the active participation of Arabatech and CBN representatives. Mr. Victor Iyama, the National President of FACAN reiterates the hope that the eNaira will be of immense benefit to all the members of the Association in the long run down to the grassroots level since some members are traders, or processors, while most of the members are the farmers at the grassroots. He charges the members present to educate their members at the grassroots as has been done now. The President is particularly happy for the use of *997# USSD without the need for BVN or NIN for farmers at the grassroots level to be onboarded. The statement was made during the formal launching of the eNaira onboarding partnership with Arabatech.

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The CBN team is led by Mr, Joseph Angaye the deputy director of IT and CBDC officials, while the Arabatech Team is led by Mr. Segun Olugbile who is the MD/CEO of the company.

The plan is aimed at deepening the use of eNaira among farmers and agro-allied merchants ecosystem in the agricultural sector of the economy.
Arabatech entered into a strategic partnership with the Federation of Agriculture Commodity Associations of Nigeria (FACAN) to commence the eNaira campaign and onboarding of its 50 million members and associations under FACAN across the country.

The National Working Committee and Presidents of Associations unanimously pass a resolution for the approval of FACAN eNaira onboarding of members and therefore call for close collaboration with the CBN and Arabtech towards the successful implementation of the initiative within the timeline.

FACAN is an apex umbrella body for the Agricultural Commodity Associations in the country, and an initiative of the Federal Government established through a public-private partnership arrangement as a one-stop-shop between the government and the organized private sector in Agriculture and a link between the private Agricultural Commodity Practitioners. The Association provides members with maximum benefits for the overall development of agricultural commodities in the country.

CBN appoints Arabatech as one of the official Partner-Agents for the eNaira wallet adoption and onboarding campaign in the country. The campaign is in furtherance of the CBN Digital Financial Inclusion Strategy and Programme which is aimed at achieving inclusive adoption of central bank digital currency eNaira across the county. The eNaira is targeted at the banked and unbanked merchants and individuals in the country.