The Central Bank of Nigeria (CBN) has collaborated with Benson Idahosa University (BIU) to deepen the adoption of eNaira policy as a payment system on which products and services are rendered.
CBN Benin Branch Controller, Michael Mbeze, stated this during a three-day training of selected students of the institution who would served as CBN ambassadors of the policy on the application of eNaira.
Mbeze stressed that the eNaira, just like the physical Naira, is also an official legal tender of the Federal Republic of Nigeria and is a direct liability of the CBN, hoping that it would provide a platform to drive the digital economy.
According to him, “the CBN believes the eNaira will make a significant positive difference to Nigeria and Nigerians, including improving the availability and usability of Central Bank money, supporting a resilient payment system ecosystem, encouraging financial inclusion, reducing the cost of processing cash, increasing revenue and tax collection, facilitating diaspora remittances”.
He added that other benefits of the policy include, improving the efficiency of cross-border payments and cost reduction
“The eNaira is the digital equivalent of the cash Naira. Put simply, “same Naira, more possibilities”. The eNaira, like the physical Naira, is also an official legal tender in Nigeria and is a direct liability of the CBN”.
“The CBN desires to partner with key stakeholders like institutions of higher learning such as the prestigious Benson ldahosa University, (BIU) and other members of the public to deepen the adoption of the eNaira both as a payment system on which products and services are rendered and a medium of exchange and transactions settlement”
Also speaking, the acting vice Chancellor, Prof. Johnson Oyedeji, assured CBN that the institution would key into the scheme as it would help the nation to grow financially.
“As a university we are going to support you, we are going to have some of our students as your ambassadors and we are also looking to see how we are going to also benefit, especially doing your branding around our campus”.
“For the training of selected students of our institution as ambassadors, beginning from today till Friday and the university will provide comfortable environment for training and I believe that at the end of the day, it will be a win-win situation for the university and CBN.”
One of the trainers, Nwankpa Izuchukwu, of Zenith Bank, said the CBN is trying to start an eco-system using the youths to drive and spread eNaira across the country.
He said the training would make it easier for the student to create the awareness of eNaira since they lived within the eco-system, adding it is faster and cheaper to use students ambassadors to drive the policy.
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