See Why CBN, Varsity Partners On eNaira

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CBN

The Central Bank of Nigeria has partnered with Benson Idahosa University, Benin, Edo State, to deepen adoption of eNaira as a payment system and medium of exchange.

 

This was disclosed by the Branch Controller, CBN, Benin, Michael Mbeze, who stated this during a three-day training of students of the institution on the application of eNaira.

 

CBN

Mbeze explained that the eNaira, just like the physical Naira, was also an official legal tender of the Federal Republic of Nigeria and a direct liability of the CBN, hoping that it would provide a platform to drive the digital economy of the country.

 

Hear him, “The CBN believes the eNaira will make a positive difference to Nigeria and Nigerians, including improving the availability and usability of money, supporting a resilient payment system ecosystem, encouraging financial inclusion, reducing the cost of processing cash, increasing revenue and tax collection; and facilitate diaspora remittances

 

“The CBN desires to partner with key stakeholders like institutions of higher learning such as Benson Idahosa University and other members of the public to deepen the adoption of the eNaira both as a payment system and a medium of exchange and transaction settlement.”

 

However, One of the trainers, Nwankpa Izuchukwu, said the CBN was trying to start an eco-system using the youths to drive and spread of eNaira across the country.

 

He also noted that the training would make it easier for the students to create awareness since they lived within the eco-system, adding that it was faster and cheaper to use students as ambassadors to drive the policy.

 

 

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