Kano School Receives School Fees In Cryptocurrencies

The school said the decision was taken based on the announcement by the Central Bank to introduce digital currency in the country by December this year.

A private school opened in  2017 in Kano State has started accepting school fees payment in crypto currencies.

School Principal of New Oxford Science Academy, Sabi’u Musa Haruna, confirmed the development on Thursday evening, saying the decision was made to ease payment of school fees.

Mr Haruna said, “We took the decision to make it easy for parents to pay their children’s school fees, and concerning the fact that these digital currencies in the next few years will dominate other currencies all over the world and Nigeria will have its digital currency by December, this year.”

Mr Haruna further said the decision was taken based on the announcement by the Central Bank of Nigeria to introduce digital currency in the country by December this year.

“The CBN governor made the announcement. So, we decided that since it is something that is not new, and it is a welcome development, we decided to embrace it, before it becomes too late for us,” the school principal

Mr Haruna noted that other countries like El-Salvador and Tanzania had long been receiving crypto currency in their schools. He urged the federal government to quickly embrace the system and regularize it.

The Gazette learnt that school fees for students in primary school costs N10,000 while those in secondary school pay N15,000.