JAMB Announces Applicants Can Pay For UTME Using eNaira
- JAMB said that candidates sitting for the Unified Tertiary Matriculation Exams can pay using the e-Naira
- JAMB candidates can now download the e-Naira Wallet and use it to pay for forms
- CBN said the digital currency is safe and effective and would eliminate extortion of candidates
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The Joint Admissions Administration Matriculations Board (JAMB) is collaborating with the Central Bank of Nigeria (CBN) to make Africa’s first CBDC the body’s preferred payment mode for 2023 registration.
The CBN said the move would eliminate extortion of candidates.
Source: UGC
e-Naira is safe and effective for payment
CBN’s Director of IT and Strategy, Rakiya Mohammed disclosed this while speaking with the bank’s financial partners. Mohammed was represented by Abdul Shedrack.
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Mohammed stated that the collaboration would aid in reducing the overall indirect cost of cash transactions on the wider community while plugging leakages in the exam body’s transactions.
According to her, the move will promote the digitization of cash and facilitate the development of e-commerce as well as support and promote the implementation of government policies and plans.
She noted that the e-Naira is the digital version of the naira and is equal in value and backed by law.
Because of this, Mohammed said the function is a safe and efficient alternative means of payment essential and seamless.
Digital currency has processed N8 billion worth of transactions
The apex bank asked candidates to download and install the eWallet from its website or through Google Play Store or Apple Store.
Reports say the CBN Governor, Godwin Emefiele disclosed that the digital currency has recorded about 700,000 transactions valued at N8 billion since it was introduced on October 25, 2021.
The latest move by CBN is to push and boost the wider adoption of e-Naira.
We don’t know the e-naira, we Have never used It, Nigerians express ignorance about CBN’s digital currency
Legit.ng reported that the Central Central Bank of Nigeria (CBN) has been hounding Nigerians over its less-than-a-year-old digital currency, the eNaira and regaling the country with its performance.
Recently, the nation’s apex bank launched an Unstructructured Supplementary Service Data (USSD) for its CBDC for Nigerians who do have access to the internet.
For the most part, Nigerians are still largely confused about the eNaira and are asking for its purpose of existence since there are many other alternatives.
Source: Legit.ng
