CBN urges tertiary institutions to embrace e-Naira

 

The Central Bank of Nigeria (CBN) has urged students and management of tertiary institutions in the country to adopt e-Naira for payment of tuition fee, salary and other transaction.

 

The Assistant Director, CBN Ekiti State branch, Mr. Ayodeji Adeboboye gave the advice during a sensitization programme on the e-Naira wallet at the Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti.

 

He said the advocacy was organized to sensitise the students and other stakeholders on the benefits and importance of e-Naira transactions and why they should embrace the channel.
Adeboboye said e-Naira remains a viable alternative payment platform to physical cash transaction and should be utilized by all Nigerians for hitch-free and cost- effective transaction.

 

He explained every financial transaction like payment of school fees by students, payment of staff salaries and buying and selling within the school community can be done seamlessly through the e-Naira wallet.

 

The apex bank boss noted that the time has come for all Nigerians to key into the e-Naira wallet because of its numerous advantages, added that other countries have gone beyond cash payment and are now using electronic payment.

 

The CBN e-Naira Consultant, Izechukwu explained the need for Nigerians to key into the CBN cashless policy, saying that Nigeria cannot afford to be left behind in the dynamic global financial ecosystem.

He said that the e-naira offered financial inclusion and help tackle corruption and money laundering as well as improve the efficiency of the financial system.

He, however, encouraged the university community and other stakeholders to embrace the alternative platform as it is cost effective, safe, secure, user-friendly and effective.

In her remarks, BOUESTI Deputy Vice Chancellor, Dr. Veronica Makinde lauded the CBN for the initiative and assured of the institution’s support in promoting the use of e-Naira.

She said that the institutions would key into the e-Naira initiative as it would help reduce bottlenecks usually experienced by students in the remittance of tuition and other sundry fees.