The Central Bank of Nigeria (CBN) has called on the students and management of universities and other higher institutions in the country to embrace the e-naira platform for the payment of school fees and other transactions.
The apex bank explained that the digital platform launched by the former president, Muhammadu Buhari-led administration in October 2021 was designed to boost financial transactions through technology in line with global best practices and the growth of the economy.
The Assistant Director at the CBN office in Ado-Ekiti, Ekiti state, Ayodeji Adeboboye spoke during the bank’s sensitization programme on the e-naira platform at the Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti (BOUESTI).
He stated that the sensitization drive became necessary for the students and staff in order to enhance the effective financial transactions in the university community without the usual bottlenecks associated with other payment platforms.
According to him, the CBN remained committed to its core mandates of ensuring that the nation’s currency competes favourably with others across the globe through the e-naira digital platform and entrenched cashless policy in the economy.
Adeboboye while calling on institutions to key into the digital platform alongside the students for seamless transaction through technology, said other institutions who had embraced it were already enjoying the numerous benefits of the digital platform.
He disclosed that the CBN has selected students in BOUESTI who will serve as ambassadors for the e-naira project and will be paid monthly stipends for promoting the use of the digital currency platform in the university community.
He said, “We are here to sensitize members of the university community on the use of e-naira and how to bring them on board. It is naira in digital form and let me say that the same things you can do with the physical naira, you can equally do it with the e-naira with even more comfort and convenience.
“ Once the university community embrace this, they can use it for payment of school fees and do other businesses on the campus. We are starting the sensitization with the universities now, and with time, we will take it to other members of society.
“ Already, we have champions in the school, who will serve as our ambassadors to help drive the campaign here in building an ecosystem to transact seamlessly through technology to help our monetary policy and the economy at large. “
Speaking, the Deputy Vice-chancellor of BOUESTI, Dr Veronica Makinde who received the CBN officials on behalf of the Vice Chancellor, Professor Olufemi Adeoluwa, commended the apex bank for considering the university for the sensitization programme.
She explained that for the country to witness growth and development, it is time for the citizens to embrace the digital platform for financial transactions like in the developed world.
Makinde said the e-naira platform would stem the numerous complaints and difficulties including long queues at banks and missing funds faced by students during payment of school fees.
