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e-Naira: CBN takes advocacy campaign to Federal Polytechnic Bauchi

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By Abdullahi Idris, Bauchi

The Central Bank of Nigeria (CBN) took its e-Naira policy campaign to Federal Polytechnic Bauchi to aid financial transactions in the institution.

Speaking during the campaign at the institution in Bauchi Mr. Haludu Andaza CBN Branch Controller, said the e-Naira is the central bank’s digital currency of Nigeria.

He explained that the e-Naira policy is designed to complement the existing physical Naira and to provide a more efficient, secure, and accessible means of payment.

“It represents a remarkable leap forward in how we interact with money, and it is tailored to meet the needs of our vibrant and dynamic community.

“One of the primary advantages of the e-Naira lies in its unparalleled convenience. With this digital currency, individuals can swiftly and easily make payments without relying on physical cash or traditional payment cards.

“The e-Naira streamlines the payment process, allowing for seamless transactions in various scenarios,” he said.

According to Andaza, the e-Naira 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 Branch Controller reiterated that the e-Naira policy plays a vital role in promoting financial inclusion, particularly for individuals without access to traditional banking services.

He also stressed the need for the polytechnic community to embrace and migrate to the cashless system for financial security and efficiency using the e-Naira initiative.

“This digital currency opens doors for those who may have been previously excluded from the formal financial system.

“By granting them the ability to engage in digital transactions and experience the benefits of financial empowerment” Andaza noted.

In a remark, The Rector, Alhaji Sani Usman said the polytechnic welcomes the CBN initiative and the campaign to educate the management and Nigerians on the e-Naira policy.

He assured that the Polytechnic would embrace the policy and would be dedicated to the initiative and as well educate and make students and staff as agents of the e-Naira initiative.

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