The Central Bank of Nigeria (CBN) has said that Nigeria is still 60 years behind in terms of technology.
It also said that the country is left behind in the issue of currency management, saying cash is no longer in vogue.
During an e-Naira sensitisation exercise for the management, staff and students of Kaduna Polytechnic, CBN’s state Branch Controller, Muhammad Aminu urged the Polytechnic community to adopt the e-Naira for payment of tuition fees and other transactions in the institution and even beyond.
He noted that the e-Naira was designed to complement the existing physical Naira and to provide a more efficient, secure and accessible means of payment.
According to him, “the e-Naira launched with fanfare by (then) President Muhammed Buhari on 25th October 2021, has the potential to revolutionise the way we transact and conduct business, and that is why the CBN is taking deliberate steps to move from a cash-based economy.
He added: “The e-Naira is not just any currency; it is designed to complement the existing physical Naira and to provide a more efficient, secure and accessible means of payment.
“By embracing the e-Naira, we position ourselves at the forefront of progress, fostering a thriving economic environment.
“Considering the multitude of benefits associated with the e-Naira, I strongly urge The Kaduna Polytechnic to adopt this for the collection of fees, levies and revenues within our institution”.
