University of Jos in Nigeria has expressed its willingness to accept the digital Nigerian naira (e-Naira) to pay for its educational programs.
Top Manager of the Central Bank of Nigeria (CBN), Tinat Esther Catherine, said this during a visit to the University of Jos (UNIJOS).
She said it would be much more convenient for students to pay their tuition in state-issued Stablecoins than in cash, since payments using e-Naira are instantaneous and cost-free.
Catherine noted that Nigeria was the first country in Africa to introduce its own digital currency.
“Students may be the best targets 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 Jos University so that it can accept payment in it. Then, in time, other universities will follow its example,” said the top manager of the Central Bank of Nigeria.
Professor Tanko Ishaya urged 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 said that if the digital naira can simplify payments for the university and expand financial options for students, the institution is willing to use it.
In March, Central Bank of Nigeria Governor Godwin Emefiele reported that the central bank’s digital currency transactions increased 63 percent to $47.7 million.
Late last year, the regulator restricted cash withdrawals to boost demand for digital naira.