E-naira: HEDA gives CBN 7 days ultimatum to disclose dealings with Bitt Inc.

The Human Environmental Development Agenda (HEDA) has given the Central Bank of Nigeria a maximum of seven days ultimatum to reveal to Nigerians its business dealings with Bitt Inc.

According to People’s Gazette, this was made known in a statement seen on Monday.

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In the statement, HEDA demands that the CBN, in line with global practices, must provide relevant details of the bidding process that led to the engagement of Bitt Incorporation with the apex bank.

The statement signed by HEDA Chairman, Olanrewaju Suraju, addressed to CBN Governor Godwin Emefiele, stated that it was making its request under the Freedom of Information Act, 2011.

The anti-corruption group asked the CBN to provide all important details of its engagement with the company as regards the project named “eNaira” announced in August.

“The CBN has the responsibility to inform the public on the bidding process in the context of transparency and due diligence. While the winner of the bid has been announced, it is necessary for the public to know how the winner of the bid emerged,” Mr Suraju said.

HEDA said its request on the subject was part of its mandate as a human rights group to protect and promote transparency, accountability and justice in public service.

In the statement to The Gazette, HEDA said it has no doubt that the bidding process was done in accordance with the 2007 Public Procurement Act.

“However, to satisfy public curiosity and pursuant to Sections 2, 3 and 4 of the Freedom of Information (FoI) Act, 2011, however, HEDA requested for critical information like list of bidders and evidence of public opening of the bid,” the letter stated.

E-naira

It is no news, that CBN recently awarded E-Naira to Bitt Inc. from “among highly competitive bidders” who applied to make the apex bank vision to actualize its naira digitalisation a reality.

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According to Nairametrics, out of over 100 potential bidders from local and foreign, CBN chose Bitt Inc. an Eastern Caribbean Central Bank (ECCB) on the back of its experience by implementing this in 8 countries of the Eastern Caribbean.

However, since the announcement, there have been mixed reactions by Nigerians as many believed the e-naira could have been contracted to one of the many competent Fintech companies in Nigeria.

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