The University of Jos in Nigeria has expressed its willingness to accept digital Nigerian Naira (e-Naira) to pay for its educational programs.
The top manager of the Central Bank of Nigeria (CBN), Tinat Esther Catherine, announced this during a visit to the University of Jos (UNIJOS). According to her, it will be much more convenient for students to pay for their studies in state stablecoins than in cash, since payments using e–Naira are instantaneous and without additional costs. Catherine noted that Nigeria was the first country in Africa to introduce its own digital currency.
“Students can be the best objects for the introduction of digital naira. They can tell their peers about it even outside the university. We would like to introduce e-Naira to the University of Jos so that he can accept payment in it. Then, over time, other universities will follow his example,” said the top manager of the Central Bank of Nigeria.
Professor Tanko Ishaya called on the central bank to make the use of e–Naira available to all Nigerians outside the country, as CBDC can improve international transfers with Nigeria. Ishaya noted that if the digital naira is able to simplify payments for the university and expand the financial capabilities of students, the educational institution is ready to use it.
In March, the governor of the Central Bank of Nigeria, Godwin Emefiele, reported that the volume of transactions with the central bank’s digital currency increased by 63% to $47.7 million. At the end of last year, the regulator restricted cash withdrawals to increase demand for digital naira.