The Central Bank of Nigeria (CBN) has inaugurated eNaira wallet student ambassadors in the University of Jos to further deepen the digital banking culture among the youth.
Esther Tinat, the Branch Manager of the apex bank in Jos, who inaugurated the ambassadors, said that the initiative is from the Central Bank Digital Currency (CBDC), aimed at improving the economy.
She explained that the initiative was introduced in 2021, making Nigeria the first in Africa to introduce the CBDC.
According to Tinat, CBDC, issued by the government, has the same value as paper, fiat, or currency.
”eNaira is an electronic version of the local paper naira currency, equal in value and issued by the CBN.
”It is not intended to replace cash but will function as a safe and efficient alternative means of payment
”eNaira has the same value as the physical naira, its value will rise or fall in relation to the dollar in the same way as the fiat currency.
”The economy of the world is evolving, and we don’t have to be left behind; once you have the wallet, you can purchase anything you want,” she said.
The branch manager said that they were in the institution, being the 10th in the country to create awareness on the benefits of the initiative.
”This is the 10th university we are visiting to carry out this sensitisation and this is because students are critical stakeholders in this process.
”We want students to start paying their school fees using the eNaira wallet,” she added.
Speaking, Mr Godson Egochukwu, the consultant to CBN in eNaira, said that more than 20 million Nigerians were currently using the wallet.
He called on Nigerians to take advantage of the initiative for better and seamless transactions.
The Vice-Chancellor of the institution, Prof. Tanko Ishaya, thanked the CBN team for inaugurating the policy in the university.
He promised to support apex bank toward ensuring the success of the initiative in the institution and the country in general.
He, however, tasked the CBN to ensure all loopholes and challenges associated with the wallet were adequately addressed.
