Nigerian secondary school to accept cryptocurrency payments
New Oxford Science Academy, a private secondary school in Kano State, Nigeria, has announced it will be accepting cryptocurrency as a means of payments for school fees despite the Central Bank of Nigeria (CBN) banning financial institutions from providing cryptocurrency-related services.
According to a report from Kano Focus, a news outlet in the state, the Proprietor of the school, Sabi’u Musa Haruna, will allow students to pay their tuition fees in cryptocurrency. The Proprietor said this while addressing journalists in Kano, stating that the school management took the decision after consulting parents and guardians. He urged the Nigerian government to embrace and regulate cryptocurrency in the interview.
Sabi’u Musa Haruna stated, “We have decided to accept cryptocurrency as school fees, because the world today is tilting towards the system. We believe one day, digital money will gain more acceptance than paper money.”
He further explained that the decision was aimed at easing the strain of payment of school fees for parents, citing that countries like El Salvador and Tanzania had expanded payment options for cryptocurrency users. He did not give specifics as to which tokens the school will accept for payment, however.
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