JAMB Announces E-naira As Preferred Payment Method For JAMB 2023; The Joint Admissions Administration Board and the Central Bank of Nigeria have worked to make e-naira the preferred payment mechanism for 2023 UTME registration.
CBN further stated that the development would end candidate extortion.
Rakiya Mohammed, CBN Director of IT, Architecture, and Strategy, represented by Abdul Shedrack, stated this during a meeting with the board and its financial partners.
Why e-naira for payment? Muhammed explained that this would help to lower the overall indirect cost of cash transactions on the larger community while also preventing leakages in the board’s transactions.
She went on to say that this will also aid in the digitization of cash and the development of e-commerce, as well as support and promote the implementation of government objectives.
Muhammed further stated that the e-naira is the digital form of the naira currency, with equal value and legal backing.
On this basis, he stated that it will work as a secure and efficient alternative payment method that is seamless and resistant to exploitation.
Candidates are consequently encouraged to download and install the eWallet from its website, as well as via the Google Play or Apple IOS stores. Using it to pay for Jamb exams will likely boost its adoption rate among young Nigerians.