The New Oxford Science Academy, a private school in Kano, Nigeria, has announced that it will be accepting cryptocurrency as payment for school fees.
According to the school’s proprietor, the school management took the decision after consulting parents and guardians.
In a statement, Sabi’u Musa Haruna, school owner and proprietor, said:
“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. The decision is aimed at easing the payment of school fees for the parents.”
– Proprietor, The New Oxford Science Academy, Nigeria
The school made the decision contrary to the Central Bank of Nigeria (CBN) caution against crytocurrencies which also saw the regulator ban all banks and deposit-taking firms from dealing in cryptocurrencies.
Nigeria is the second largest P2P crypto marketplace in the world and the largest, by far, in Africa.
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