CBN, UniAbuja partner to Promote Adoption of e-naira.
The Central Bank of Nigeria(CBN) and the University of Abuja are partnering yo promote the adoption of e-naira within the University.
To promote the eNaira adoption in Tertiary Institutions across the nation and Foster an environment where it is preferred option, the Central Bank of Nigeria has partnered with third party agents of the eNaira to initiate a campaign that promote its utilisation at the University of Abuja.
Speaking at the occasion, Mr.
Joseph Angaye, a Deputy Director with the CBN said the apex bank had recently embarked in engaging with a number of universities in the country
He said CBN team have been to virtually all the geo political zones of the country to talk to them about eNaira and to partner with them to ensure that eNaira is adopted as a means of financial transactions especially for revenues collection as we as payment .
” I won’t say we are late in coming here may be we have probably saved the best for the last, eNaira has really evolved from the inauguration of the eNaira by the former president almost two years ago”.
“We’ve achieved a number of mile stone , there have been further development in terms of improving the functionality based on Feedback input we have been getting from various stakeholders we are coming here with alot of experience in implementing it and as you know central bank digital currency is a new concept globally and Nigeria is one of the early adopters of central bank digital currency, and our own as you recall is called the eNaira, so the eNaira is central bank’s digital currency of Nigeria, he said.
He further said that Nigeria is the second country globally to launch it and we have gained a lot of experience and the world is coming to learn from Nigeria and we’ve been very gracious in sharing our experiences, everyday we are hosting people from the world bank, IMF and our sister central banks from across the world they are coming to learn the experiences.
Speaking on the benefit’s of the eNaira, Angaye said it’s not to replace the naira, it’s not to replace the existing payment system infrastructure we already have , it was introduced to deepen the financial system especially the payment system, to address some challenges we saw in the payment system infrastructure and to compliment what we already have .
He noted that the e-naira was not introduced to be a competitor to what the banks are doing or other service providers but to provide a platform they can leverage to provide more effective service am sure some of us have been experiencing some challenges from time to time using the payment system but eNaira will help to promote financial inclusion, reduce congestion in the infrastructure so we are not brought down by downtime registering the number of interfaces that it takes to initiate and complete transaction and giving opportunity to provide additional services that are not even available in the Nigeria system like facilitating payment even when there’s no network.
Speaking further he said e-naira will reduce leakages when it comes to collection, it will reduce stress when it comes to issues of reconciliation of your accounting function.
Responding on behalf of the University, Prof. Aisha Sani Maikudi, who is the Deputy Vice Chancellor said the university is ready to partner with the CBN to educate Nigerians globally adding that the University has a robust virtual learning program that can help deliver mojo’s and can also help develop content education in ways that can improve knowledge and confidence of Nigerians in the eNaira.
She said that department of banking and finance in the university will be be dedicated to this stressing that students and staff can serve as agents to this endeavour .
