CBN partners Benson Idahosa University to deepen eNaira policy
As part of efforts to deepen the adoption of the eNaira both as payment system and medium of exchange, the Central Bank of Nigeria (CBN), has entered into partnership with the Benson Idahosa University (BIU) in Benin City to train students of the university.
The Benin Branch Controller of CBN, Michael Mbeze, made this known yesterday during a three-day training of students of the institution on the application of eNaira.
Mbeze explained that the eNaira, just like the physical Naira, is also an official legal tender of the Federal Republic of Nigeria and a direct liability of the CBN, adding that it would provide a platform to drive the digital economy of the country.
“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.
“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”, Mbeze said.
In his speech, one of the trainers of the University students on the eNaira project, Nwankpa Izuchukwu, said the CBN is trying to start an eco-system using the youths to drive and spread eNaira across the country.
Izuchukwu, hinted that the training would make it easier for the students to create the awareness since they lived within the eco-system, adding that it is faster and cheaper to use students as ambassadors to drive the policy.
On his part, the acting Vice Chancellor of the University, Prof. Johnson Oyedeji, said BIU is poised to support policy that would grow the nation financially and benefit Nigerians.
Oyedeji opined that the eNaira policy of the CBN must have been well thought out and should be efficiently implemented for the over benefit of the society, adding “as a university, we are going to support it”.
