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Nigerian School to accept cryptocurrency as payment for school fees

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Vandana Mrigwani Follow

INDIA

Jul, 01 2021

Jul, 01 2021

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Nigerian School has now decided to accept cryptocurrency as one of the payment modes for school fees. The school Principal Sabi’u Musa Haruna spoke addressed in Kano to all the journals while talking on school management. On June 25th, the management made this decision considering the world is accepting this payment for different purposes.


The decision was made by the Principal of the school only after consulting parents and guardians to make sure they walk with the changing trends at the global level

Sabi’u Musa Haruna the Principal of the school stated that “We believe one day digital money will gain more acceptance than paper money.” It is a clear sign that irrespective of the fact that the central bank of the country itself is banning the banning financial institutions to offer services to crypto exchanges, this private secondary school wants to walk with the changing global trend.


Certainly, by ignoring the repetitive warning that has been made by many regulators includes the Central Bank of Nigeria (CBN) against the use of cryptocurrencies, there will be further action that may head up ahead.

While citing some of the examples of countries such as Tanzania that has been expanding the payment options for crypto users, the school director seems to be quite determined about moving to such an option.

However, it is still not clear which token will be considered as the payment mode. But certainly, this learning institution in the state of Nigeria at Kano, also popularly referred to as New Oxford Science Academy is all set for the new changes.


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Vandana Mrigwani

CBW - External Analyst

INDIA

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