Olufemi Adeyemi
Central Bank of Nigeria(CBN) has explained why students of higher institutions across the country should embrace payment of their school fees through the use of its digital currency platform, the eNaira.
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Assistant Director, Ekiti State branch of the apex bank,
Ayodeji Adeboboye, gave the advice yesterday during a sensitisation on the
e-Naira wallet at the Bamidele Olumilua University of Education, Science and
Technology, Ikere-Ekiti. He said the advocacy was to sensitise the students and
other stakeholders on benefits and importance of the policy.
Adeboboye, who said the apex bank has so far taken the
sensitisation to 14 tertiary institutions, added that the policy remains a
viable alternative payment platform to physical cash transactions, and should
be embraced by all for hitch-free and cost- effective operations.
The CBN official clarified that every financial transaction
like payment of school fees, salaries and buying and selling within the school
community could be done seamlessly through the e-Naira wallet.
He said there is no fee charged for e-Naira transactions,
noting that the time has come for all Nigerians to key into the new policy
owing to its numerous advantages, as other countries have gone beyond cash
payment and embraced electronic payment.
The CBN e-Naira Consultant, Izuchukwu Nwankpa, encouraged
Nigerians to key into the cashless policy, saying the nation could not afford
to be left behind in the dynamic global financial ecosystem. He observed that
e-Naira initiative had promoted financial inclusion and checked corruption and
money laundering, as well as improved efficiency of the financial system.
Nwankpa, however, encouraged the university community and
other stakeholders to identify with the alternative platform due to its cost
effectiveness, safety, security, user-friendliness and effectiveness.
In her remarks, the Deputy Vice Chancellor, Dr. Veronica
Makinde, lauded the CBN for the initiative, and assured of the institution’s
support in promoting the project.