By ZAHRADDEEN YAKUBU SHUAIBU

A private secondary school in Kano, New Oxford Science Academy, Chiranchi, is accepting cryptocurrency as payment for school fees.

The Central Bank of Nigeria (CBN) had banned all forms of cryptocurrency transactions earlier in the year.

But addressing journalists on Thursday, Sabi’u Musa Haruna, proprietor of the school, said the school management decided to accept cryptocurrencies after consulting parents and guardians.

“’The decision is aimed at easing the payment of school fees, for the parents,” Haruna 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.”

Haruna added that countries like El-Salvador and Tanzania are already accepting cryptocurrency in their schools.

He, therefore, urged the Federal Government to quickly embrace the system and regularise it.

(Adapted from Daily Trust)

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