CBN urges FUTA to adopt e-naira for all financial transactions

The Central Bank of Nigeria (CBN) has urged the management and students of the Federal University of Technology, Akure (FUTA), to adopt the e-naira platform for all their financial transactions.

Mr Samuel Giwa, the Acting Branch Controller of the CBN in Akure, made the appeal on Monday at FUTA during an e-naira sensitisation programme.

Giwa said that the digital currency was safe, efficient, robust and user friendly, saying that the transaction on the platform was at no cost.

“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,” he said.

According to him, the digital currency is an opportunity to revolutionise financial landscape of the country if well embraced and used.

The Acting Branch Controller said that e-naira was designed to complement the existing physical naira and to provide a more efficient, secure and accessible means of payment.

Giwa stated that the digital currency represented a remarkable leap forward on how individuals interacted with money, saying that it was tailor-made to meet the needs of vibrant and dynamic community.

He said that the CBN deemed it fit to organize the sensitization programme in the institution because youths constituted a larger percentage of the society.

Giwa said that the regulatory bank 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.

In her remarks, the Vice Chancellor of FUTA, Prof. Adenike Oladimeji, described the digital currency as a good initiative of the regulatory bank.

Oladimeji, who was represented by the FUTA’s Deputy Vice Chancellor on Academics, Prof. Titi Amos, said that e-naira had many benefits associated with it, hence the need to embrace it.

She stated that it was good that the CBN had involved youths, adding that FUTA had a vibrant crop of students that had won laurels in local and international competitions in various fields.

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

It was reported that e-Naira was launched on Oct. 25, 2021, by former President Muhammadu Buhari.