 Now, the central bank of Nigeria, CBN, says that 26% of the amount spent on printing currency notes would have been channeled to other areas of the economy if Nigerians embraced the e-Nira digital currency as means of transactions. The APEX banks say that these are the sensitization campaign on e-Nira for students to embrace digital currency. On October 25, 2021, the federal government under the Buwari administration launched the e-Nira digital currency with many benefits to address some of the challenges in banking and ensures financial inclusion for all citizens. Yet, with this development, less than 15% of Nigeria's banking population are operating on the e-Nira wallet. The CBN is now sensitizing management and students of tertiary institutions to embrace the e-Nira for transaction. The CBN authorities explained that it is spending more to print Nira notes, which is not healthy for the nation's economy, noting the need for e-Nira currency to enable peer-to-peer payments. Can you hear me? Please remove the currency a bit. The e-Nira will be very common with all the people in Kanduna state. The word e-Nira means electronic. It will just be in electronic form. So the cost of printing this money, carrying bulk amount of money and processing the money, you know all the money that you see in circulation. Any money that goes back to the bank and eventually to the CBN is being processed and is expensive to both the government and even the deposit money banks. But with e-Nira, it's going to drastically reduce the processing of this money and even the printing of the money. The cost of printing the money will be reduced. The management of Kaduna Polytechnic said e-Nira will cut out middlemen and use of intermediaries such as financial institutions and illicit or fraudulent purposes. The sensitization is going to be of great importance to Kaduna Polytechnic because this will give the staff and the students the ability to know what the e-Nira is all about and to be able to reduce folding of cash, which will reduce a lot of complaints and be hearing people talking about missing, throwing their money on whatever. But on the side of the management, the management is very, very ready. If all the regulatory bodies, you know we are under a regulatory bodies, all the regulatory bodies accept to imbibe the e-Nira process, we are ready to accept it and we are ready to use it. Some of the students commanded CBN for organizing the sensitization campaign to embrace e-Nira digital currency. Coming to attend this seminar or this enlightenment program, it is legal and then there should be the financial institutions to monitor how it is being used. So if there is monitoring on how it is being used, there are no people who use it for illegal means. The Apex Bank said it intends to ensure no Nigerian within the banking age is financially excluded, especially in rural communities for easy access for transaction. Hello, hope you enjoyed the news. Please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.