CBN urges tertiary institutions to embrace e-Naira for fees, salaries

The Central Bank of Nigeria on Thursday admonished students and management of tertiary institutions in the country to adopt the e-Naira for payment of tuition fees, salaries, and other transactions in view of its benefits.

The Assistant Director, CBN Ekiti State Branch, Mr Ayodeji Adeboboye, said that e-Naira remained “a viable alternative payment platform to physical cash transaction and should be utilised by all Nigerians for hitch-free and cost-effective transactions.”

Adeboboye, who spoke during a sensitisation drive on e-Naira wallet by CBN at Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti, said the exercise was to sensitise the students and other stakeholders on the need to embrace the platform.

He said, “Every financial transaction such as payment of school fees by students, payment of staff salaries, and buying and selling within the school community can be done seamlessly through the e-Naira wallet.

“The time has come for all Nigerians to key into the e-Naira wallet because of its numerous advantages. Other countries have gone beyond cash payment and are now using electronic payments”, Adeboboye said.