The apex bank urged the university to adopt the new system
for financial transactions within the varsity environment.
Speaking during the visit of the team of the CBN to the
management of the university, the leader of the team and acting Controller of
the Akure Branch of the CBN, Mr Samuel Giwa said there was a need for Nigerians
to embrace the new digital currency, going by lots of benefits attached to it.
Giwa explained that the eNaira has the potential to
revolutionise the way “we transact and conduct business.”
Stating some of the reasons FUTA should adopt the eNaira
system, the CBN boss said it was convenient, safe, efficient, and transparent.
He said, “This digital currency, individuals can swiftly and
easily make payments without relying on physical cash or traditional payment
cards. The eNaira streamlines the payment process, allowing for seamless
transactions in various scenarios.
“The eNaira operates on robust blockchain technology,
ensuring a high level of security. This advanced technology makes it incredibly
challenging to counterfeit or compromise the currency, providing peace of mind
to both users and businesses. By adopting the eNaira, we bolster the integrity
and trustworthiness of our financial ecosystem.
“The eNaira plays a vital role in promoting financial
inclusion, particularly for individuals without access to traditional banking
services. This digital currency opens doors for those who may have been
previously excluded from the formal financial system, granting them the ability
to engage in digital transactions and experience the benefits of financial
empowerment.
“Embracing the eNaira can significantly enhance the
efficiency of our financial operations. The transparency and traceability of
transactions facilitated by the digital currency allow for streamlined
processes, reducing administrative burdens and improving overall operational
efficiency.
“The eNaira serves as a catalyst for economic growth, as
evidenced by other countries’ successful adoption of central bank digital
currencies. China’s digital yuan and the Bahamas’ Sand Dollar have demonstrated
how CBDCs can boost the efficiency of financial systems and stimulate economic
development. By embracing the eNaira, we position ourselves at the forefront of
progress, fostering a thriving economic environment.”
The CBN acting controller urged the university to adopt the
eNaira for the collection of fees, levies, and revenues on the campus of the
institution.
In her remarks, the Vice Chancellor of FUTA, Prof Adenike
Oladiji lauded the apex bank for the digital currency initiative but advised
the bank to carry the youths along.
Represented by the Deputy Vice-Chancellor Academics, Prof.
Taiwo Amos, the VC said the FUTA students were vibrant and would be ready to
accept the new system.
“In FUTA here, we have vibrant crops of students, they are
trailblazers. Two of them would soon be going to the United States for five
weeks of training. On the issue of adopting the system (eNaira) to collect fees
on the campus, we can’t decide that here, when we get to the bridge we cross,”
the VC stated.