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Financial Inclusion: CBN urges University community to adopt e-Naira for transactions

*The Central Bank of Nigeria urges the authorities and students of Federal University of Technology, Akure, in Ondo State, to embrace the e-Naira platform, stressing the digital currency transactions are ‘safe, efficient, robust and user-friendly’

Isola Moses | ConsumerConnect

As part of its financial inclusion effort in the economy, the Central Bank of Nigeria (CBN) has urged the Management and students of the Federal University of Technology, Akure (FUTA), in Ondo State, to adopt the e-Naira platform for all their financial transactions.

ConsumerConnect learnt Mr. Samuel Giwa, Acting Branch Controller of CBN in Akure, Ondo State capital, urged members of the University community Monday, July 3, 2023, during an e-Naira sensitisation programme held on FUTA campus.

Benefits of e-Naira

The CBN Branch Controller explained the Central Bank Digital Currency (CBDC) is safe, efficient, robust and user-friendly.

According to Giwa, transactions on the e-Naira platform are at no cost.

He stated: “I strongly urge the university to adopt this for the collection of fees, levies and revenues.

“I also encourage all businesses operating within the university to follow suit and embrace e-Naira.

“By doing so, you will not only enhance your financial well-being, you also will contribute to the broader goal of economic growth of Nigeria.”

The digital currency, the CBN top official noted, is an opportunity to revolutionise financial landscape of the country if well-embraced and used, report said.

Giwa further said that e-Naira is designed to complement the existing physical Naira and to provide a more efficient, secure and accessible means of payment.

The Acting Controller as well stressed the digital currency represent a remarkable leap forward on how individual consumers interact with money.

It is tailor-made to meet the needs of vibrant and dynamic community, stated he.

Essence of consumer sensitisation programme

On the reason the Bank has organised the consumer sensitisation series across the country, Giwa also said the Bankers’ Bank deemed it fit to organise the sensitisation programme at FUTA because youths constituted a larger percentage of the society.

He disclosed the banking sector regulator had chosen some students that would be e-Naira Ambassadors who would be agents of the bank relating with students in the school as regards the digital currency.

FUTA students will adopt e-Naira for value

For efficiency, easiness and additional security, Prof. Adenike Oladimeji, Vice-Chancellor of FUTA,  described the digital currency as a good initiative of the regulatory Bank in Nigeria.

Oladimeji, represented by  Prof. Titi Amos, Deputy Vice Chancellor (DVC), Academics, said that e-Naira has several benefits associated with it, hence the need to embrace it in the University community.

The Vice-Chancellor emphasised that is good the CBN has involved the Nigerian youths in the consumer sensitisation drive in the West African country.

Prof. Oladimeji disclosed that FUTA has a vibrant crop of students that have won laurels in local and international competitions in various fields academic endeavour.

The VC expressed optimism that students in the University would no doubt embrace digital currency since it was efficient, easier and more secure.

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