Acceptance Of Cryptocurrency Announces In Northern School For School Fees

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The Central Bank of Nigeria’s (CBN) decision to allow Nigerians to trade in cryptocurrency, a private secondary school is now accepting the digital currency as payment of school fees.

Leakblast.com reports that New Oxford Science Academy, in Chiranchi, Kano state revealed its decision after due consultation with parents.

Sabi’u Musa-Haruna, the school proprietor made the announcement while speaking to newsmen on Thursday, June 24.

According to him, the development is aimed at easing the payment of school fees, adding that one day digital money will gain more acceptance than paper, Independent added.

While noting that schools in Tanzania and El-Salvador are already accepting cryptocurrency, Haruna urged the Nigerian government to quickly embrace the system and regularize it.

Cryptocurrency will be allowed in Nigeria

Earlier, CBN governor Godwin Emefiele said it will allow Nigerians to trade in cryptocurrency almost four months after it informed banks to close cryptocurrency linked accounts.

READ ALSO: Bitcoin Investors Lost $2.2billion to South African

In February, Emefiele had ruled out the central bank’s support for the digital currency, stating that it is used to fund criminal activities and no credible investors will want to be associated with it.

He reiterated this sentiment after the CBN monetary policy committee meeting, stating that cryptocurrency is mostly used for illegitimate businesses as the apex Bank has carried out its investigation.

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