Nigerian school will now accept cryptocurrency for fees payment. The director of the school said that he thinks one-day digital currency will “gain more acceptance” than fiat. The private school is doing this even after the banks have banned cryptocurrency and are creating a lot of restrictions for anyone dealing in the same. This is quite a strong move by the school and looks like the board is very advanced.
Cryptocurrency as school fees
The name of the school that started accepting crypto is New Oxford Science Academy. It is located in Chiranchi. The director of the school did request the government to regulate crypto but moved ahead without any decision from the government. He added that the kind of adoption digital currencies are seeing it is important to accept it. I feel really happy to share this information as even small schools are getting in on the big game against centralized money.
The countries like El Salvador has been one of the major reasons for them to accept crypto. If entire countries can move to the system why can’t a school? The school will probably work with the only Bitcoin but nothing has been specified by the authorities.
Nigeria is not crypto-friendly
The central bank of Nigeria has already banned financial institutions from proving services to crypto exchanges. They are not very crypto-friendly as the government has also asked the banks to close any accounts related to the same. And if not followed severe actions will also be taken. This move was meant to discourage people from investing in cryptocurrencies. But now they are taking a neutral stance on it and might even release their own crypto by 2022. So, all in all, the move to accept school fees in cryptocurrency was quite a bold one and is quite appreciated.
What are your thoughts on the Nigerian school accepting cryptocurrency? And if your school did the same will you used the payment method? Let us know in the comments below. Also, if you found our content informative do like and share it with your friends.