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Northern School Accepts Cryptocurrency as School Fees after CBN U-turn

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Regarding the resulttion by the Central Bank of Nigeria (CBN) to permit Nigerians to deal in cryptocurrency, a non-public secondary school is now receiving digital foreign money as a fee of school charges.

According to a report by Daily Nigerian that New Oxford Science Academy, in Chiranchi, Kano state indicated its ruling after a due session with parents.

While speaking with journalists on Thursday, Sabi’u Musa-Haruna, the school proprietor made the announcement.

In accordance with him, the event is aimed toward easing the cost of school charges, adding that at some point digital cash will gain extra endorsement than paper, Independent added.

While remarking that colleges in Tanzania and El-Salvador are already acc adopting cryptocurrency, Haruna advised the Nigerian authorities to rapidly adopt the scheme and regularize it.

CBN governor Godwin Emefiele, earlier stated it’s going to permit Nigerians to buy and sell cryptocurrency nearly 4 months after it notified banks to shut cryptocurrency-associated accounts.

Emefiele similarly in February had ruled out the central financial institution’s support for the digital foreign money, noting that it’s used to finance criminal activities and no reasonable traders will need to be linked with it.

He repeated this notion after the CBN financial policy committee assembly, asserting that cryptocurrency is usually used for unlawful businesses as the apex Financial institution has carried out its investigation.

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