Kano School dares CBN, receives fees in cryptocurrency

Despite the ban on cryptocurrency, the Central Bank of Nigeria (CBN), a private secondary school in Kano, New Oxford Science Academy, Chiranchi, on Thursday announced that it is accepting cryptocurrency as payment for school fees.

Proprietor of the school, Sabi’u Musa Haruna while addressing journalists in Kano, said the school management took the decision after consulting parents and guardians.

“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,” Haruna said.

Recalls that the apex bank had on February 5, 2021 banned all forms transactions using the cryptocurrency.

The CBN announcement was contained in a circular addressed to banks and other financial institutions.