CBN Urges Schools To Embrace E-Naira For Fee Payments


The Central Bank of Nigeria (CBN) has revealed that over 20 million Nigerians have already embraced the e-naira initiative, urging others to join in for convenient daily transactions. As part of their campaign, the CBN visited the University of Jos, encouraging the management, staff, and students to utilize e-naira wallets for hassle-free and cost-effective transactions.

During the visit, Esther Tinat, the CBN Jos Branch Controller, addressed Professor Tanko Ishaya, the Vice-Chancellor of the University, his management team, and student representatives. Tinat emphasized that the e-naira initiative, launched in October 2021, is user-friendly and designed to simplify transactions.

“We are here to introduce the e-naira, a digital currency initiative by the CBN. After extensive testing, it is now ready for adoption. We aim to capture the student community since they play a vital role in promoting its usage. Our plan is to kick off by using the campus for payment of school fees through e-naira,” Tinat explained.

Highlighting Nigeria’s pioneering role in adopting digital currency in Africa, Tinat expressed the CBN’s commitment to staying abreast of the evolving global economy. The e-naira enables seamless transactions through technology, allowing users to make purchases and transfer funds easily. Tinat sought the support of the University in embracing the e-naira initiative.

Izuchukwu Nwankpa, a CBN e-naira consultant, revealed that over 20 million individuals have already embraced the initiative. Joseph Agai from Zenith Bank further clarified that the e-naira is an enhancement of the existing payment system, making it more robust and accessible for users.

Agai stated, “The e-naira is designed to facilitate small transactions, addressing the challenges faced when using existing electronic platforms designed for larger transactions. It offers a seamless user experience, and students, being tech-savvy, are important stakeholders who can benefit greatly from this initiative.”

While the University’s Vice-Chancellor and other staff members expressed concerns about unresolved issues in the banking sector and sought clarifications on e-naira operations, they also emphasized the need for improved technology to ensure a smooth payment process.



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