{"id":4587,"date":"2021-06-25T21:23:45","date_gmt":"2021-06-25T20:23:45","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=4587"},"modified":"2021-06-25T21:23:48","modified_gmt":"2021-06-25T20:23:48","slug":"despite-the-crypto-ban-a-nigerian-secondary-school-says-it-will-accept-crypto-for-payments","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/despite-the-crypto-ban-a-nigerian-secondary-school-says-it-will-accept-crypto-for-payments\/","title":{"rendered":"Despite the crypto ban, a Nigerian secondary school says it will accept crypto for payments"},"content":{"rendered":"\n
Although cryptocurrenc<\/a>y-related activities have been banned in Nigeria, A secondary school in the country says it is ready to accept crypto as a form of payment.”<\/h5>\n\n\n\n
\"Despite<\/figure><\/div>\n\n\n\n

A private secondary school near Kano, Nigeria, has declared it will accept cryptocurrency payments for school fees, despite the country's central bank prohibiting financial institutions from providing services to crypto exchanges.<\/p>\n\n\n\n

The\u00a0director\u00a0of\u00a0the\u00a0New\u00a0Oxford\u00a0Science\u00a0Academy\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>\u00a0in\u00a0the\u00a0Kano\u00a0suburb\u00a0of\u00a0Chiranchi,\u00a0according\u00a0to\u00a0a\u00a0Thursday\u00a0report\u00a0from\u00a0local\u00a0news\u00a0site\u00a0Kano\u00a0Focus,\u00a0will\u00a0allow\u00a0students\u00a0to\u00a0pay\u00a0tuition\u00a0costs\u00a0in\u00a0cryptocurrency.<\/p>\n\n\n\n

\u00a0Sabi'u\u00a0Musa\u00a0Haruna,\u00a0who\u00a0began\u00a0working\u00a0at\u00a0the\u00a0institution\u00a0in\u00a02017,\u00a0has\u00a0pushed\u00a0the\u00a0Nigerian\u00a0government\u00a0to\u00a0embrace\u00a0and\u00a0regulate\u00a0cryptocurrency,\u00a0but\u00a0he\u00a0appears\u00a0to\u00a0be\u00a0moving\u00a0ahead\u00a0with\u00a0this\u00a0current\u00a0action.<\/p>\n\n\n\n

\u201cWe\u2019ve decided to accept cryptocurrency as school fees because the world today is tilting towards the system,\u201d said Haruna. \u201cWe believe one day digital money will gain more acceptance than paper money.\u201d<\/p><\/blockquote>\n\n\n\n

Countries\u00a0such\u00a0as\u00a0El\u00a0Salvador\u00a0and\u00a0Tanzania\u00a0are\u00a0boosting\u00a0payment\u00a0options\u00a0for\u00a0cryptocurrency\u00a0consumers,\u00a0according\u00a0to\u00a0Haruna.\u00a0<\/p>\n\n\n\n

Following\u00a0the\u00a0approval\u00a0of\u00a0a\u00a0crypto\u00a0bill,\u00a0the\u00a0Latin\u00a0American\u00a0country\u00a0will\u00a0begin\u00a0accepting\u00a0Bitcoin\u00a0(BTC)\u00a0as\u00a0legal\u00a0cash\u00a0across\u00a0the\u00a0country\u00a0on\u00a0September\u00a07.\u00a0<\/p>\n\n\n\n

Across\u00a0the\u00a0globe,\u00a0Tanzania's\u00a0central\u00a0bank\u00a0stated\u00a0today\u00a0that\u00a0it\u00a0had\u00a0started\u00a0working\u00a0on\u00a0government\u00a0guidelines\u00a0that\u00a0might\u00a0possibly\u00a0overturn\u00a0the\u00a0country's\u00a0crypto\u00a0ban.<\/p>\n\n\n\n

The\u00a0school\u00a0director\u00a0was\u00a0vague\u00a0about\u00a0which\u00a0tokens\u00a0would\u00a0be\u00a0accepted\u00a0as\u00a0payment.\u00a0However,\u00a0public\u00a0interest\u00a0in\u00a0Bitcoin\u00a0has\u00a0often\u00a0been\u00a0higher\u00a0in\u00a0Nigeria\u00a0<\/a>than\u00a0in\u00a0other\u00a0nations;\u00a0according\u00a0to\u00a0Google\u00a0Trends,\u00a0the\u00a0African\u00a0country\u00a0ranks\u00a0first\u00a0in BTC searches,\u00a0with\u00a0Austria,\u00a0Turkey,\u00a0and\u00a0Switzerland\u00a0vying\u00a0for\u00a0second\u00a0place.<\/p>\n\n\n\n

The\u00a0Central\u00a0Bank\u00a0of\u00a0Nigeria\u00a0issued\u00a0a\u00a0directive\u00a0in\u00a0February\u00a0prohibiting\u00a0authorized\u00a0financial\u00a0institutions\u00a0in\u00a0Nigeria\u00a0from\u00a0providing\u00a0services\u00a0to\u00a0crypto\u00a0exchanges.<\/p>\n\n\n\n

Though the policy threatened “severe regulatory sanctions” for any bank that failed to close exchange accounts, governor Godwin Emefiele clarified in March that the ban was intended to “prohibit transactions on cryptocurrencies in the banking sector,” rather than deter individuals from dealing in digital assets.<\/p>\n\n\n\n

In\u00a0the\u00a0months\u00a0following\u00a0the\u00a0ban,\u00a0many\u00a0lawmakers\u00a0and\u00a0persons\u00a0associated\u00a0to\u00a0Nigeria's\u00a0central\u00a0bank\u00a0promoted\u00a0pro-crypto\u00a0sentiments.\u00a0<\/p>\n\n\n\n

In\u00a0May,\u00a0Emefiele\u00a0predicted\u00a0that\u00a0“digital\u00a0currency<\/a>\u00a0will\u00a0come\u00a0to\u00a0life\u00a0even\u00a0in\u00a0Nigeria,”\u00a0and\u00a0the\u00a0central\u00a0bank\u00a0revealed\u00a0intentions\u00a0to\u00a0implement\u00a0a\u00a0CBDC\u00a0by\u00a02022.<\/p>\n","protected":false},"excerpt":{"rendered":"

Although cryptocurrency-related activities have been banned in Nigeria, A secondary school in the country says it is ready to accept crypto as a form of payment.” A private secondary school near Kano, Nigeria, has declared it will accept cryptocurrency payments for school fees, despite the country’s central bank prohibiting financial institutions from providing services to crypto exchanges. The\u00a0director\u00a0of\u00a0the\u00a0New\u00a0Oxford\u00a0Science\u00a0Academy \u00a0in\u00a0the\u00a0Kano\u00a0suburb\u00a0of\u00a0Chiranchi,\u00a0according\u00a0to\u00a0a\u00a0Thursday\u00a0report\u00a0from\u00a0local\u00a0news\u00a0site\u00a0Kano\u00a0Focus,\u00a0will\u00a0allow\u00a0students\u00a0to\u00a0pay\u00a0tuition\u00a0costs\u00a0in\u00a0cryptocurrency. \u00a0Sabi’u\u00a0Musa\u00a0Haruna,\u00a0who\u00a0began\u00a0working\u00a0at\u00a0the\u00a0institution\u00a0in\u00a02017,\u00a0has\u00a0pushed\u00a0the\u00a0Nigerian\u00a0government\u00a0to\u00a0embrace\u00a0and\u00a0regulate\u00a0cryptocurrency,\u00a0but\u00a0he\u00a0appears\u00a0to\u00a0be\u00a0moving\u00a0ahead\u00a0with\u00a0this\u00a0current\u00a0action. \u201cWe\u2019ve decided to accept cryptocurrency as school fees because the world today is tilting towards the system,\u201d said Haruna. \u201cWe believe one day digital money […]<\/p>\n","protected":false},"author":12,"featured_media":4589,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,21],"tags":[817,350,890],"class_list":["post-4587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","category-news","tag-crypto-ban","tag-nigeria","tag-secondary-school"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/06\/image-38.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=4587"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/4589"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=4587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=4587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=4587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}