• Business - Economy
  • Updated: June 09, 2023

e-Naira Sensitisation: CBN Seeks Partnership With UniUyo

The Central Bank of Nigeria (CBN) has called on the management of the University of Uyo to partner with the apex bank to sensitise its staff and students on the use of the e-Naira policy in daily business transactions.

Mercy Ogbomonpaul, the branch controller of CBN, said this while interacting with the Vice Chancellor of the University of Uyo, Prof. Nyaudoh Ndaeyo in Uyo on Thursday.

Isang Enya, the assistant director of CBN, who represented Ogbomonpul said that the e-Naira policy will aid monetary policy decisions making and urged Nigerians to embrace the policy.

According to her, the aim of the sensitisation programme is to educate the University community on the system and encourage them to key into it.

She said that the e-naira platform had been introduced into the country in 2021 for citizens to embrace for their daily businesses.

“We are here to partner with you on the e-Naira. Globally, the economy is now going to e-payment and not cash payment as it is known in our environment.

“The Central Bank in its wisdom, in line with best practices adopted the e-Naira platform.

“The e-Naira is expected to help us to be on par with what other countries are doing. The unfolding trend now is that we use e-payment rather than physical cash.

“The e-Naira is an initiative of the Central Bank that would work on par with the physical cash.

“It is the semblance of the Naira that we could use in transactions, rather than the physical cash because the naira as we know is very difficult and is costly to replace.

“The e-Naira would help us to handle those deficiencies that are noticed and experienced in the use of cash.

“The e-Naira would also help us in our policy-making, in terms of monetary policy decisions because decisions are made based on information we have.

“If we are all on the e-Naira platform, the Central bank would be able to ascertain how much has been transacted in the e-Naira platform and able to make policy decisions for our monetary policy in the country,” she said.

Responding, Ndaeyo said the institution was happy to be a part of the initiative and would partner with CBN on the e-Naira policy.

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Felicia Abisola  Olamiji
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