Northern School Announces Acceptance of Cryptocurrency as School Fees

Northern School Announces Acceptance of Cryptocurrency as School Fees

  • A private secondary school in Kano metropolis has deicided to make things easy for parents by accepting payment of it’s fees in cryptocurrency
  • The announcement was made by Sabi’u Musa-Haruna, the school proprietor while speaking to newsmen on Thursday, June 24
  • Haruna explained that the school adopted cryptocurrency to ease the payment of school fees for those who choose to

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Kano state - Amid 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.

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

Bitcoin Cryptocurrency
A private school in Kano state on Thursday, June 24, revealed its decision to accept cryptocurrency as school fees. Photo credit: Wang Zheng/VCG
Source: Getty Images

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.

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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.

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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Nigerian governor shuts down schools indefinitely

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The abduction of students and staff members of the Federal Government College, Birnin Yauri in Kebbi has forced the state government to shut down about seven schools.

Revealing this on Saturday, June 19, the chairman of the Nigerian Union of Teachers in the state, Isah Arzika, said the closure is indefinite.

Arzika disclosed that the affected schools are those located in areas that have been considered to be vulnerable to bandits' attacks.


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