CBN partners with university on eNaira

To further the acceptance of the eNaira as a payment system and medium of exchange, the Central Bank of Nigeria has teamed with Benson Idahosa University in Benin, Edo State.

This was said by Michael Mbeze, Branch Controller of CBN in Benin, during a three-day eNaira application training for students at the university.

In an effort to propel the nation’s digital economy, he claimed that the eNaira was a direct responsibility of the CBN and that it was, like the actual Naira, an official means of payment for the Federal Republic of Nigeria.

“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 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.”