• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home highlights

Nigerian secondary school to accept cryptocurrency payments

4 years ago
in highlights, Home, home-news, latest News
2 min read
0 0
0
63
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

New Oxford Science Academy, a private secondary school in Kano State, Nigeria, has announced it will be accepting cryptocurrency as a means of payments for school fees despite the Central Bank of Nigeria (CBN) banning financial institutions from providing cryptocurrency-related services.

According to a report from Kano Focus, a news outlet in the state, the Proprietor of the school, Sabi’u Musa Haruna, will allow students to pay their tuition fees in cryptocurrency. The Proprietor said this while addressing journalists in Kano, stating that the school management took the decision after consulting parents and guardians. He urged the Nigerian government to embrace and regulate cryptocurrency in the interview.

Sabi’u Musa Haruna stated, “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.”

He further explained that the decision was aimed at easing the strain of payment of school fees for parents, citing that countries like El Salvador and Tanzania had expanded payment options for cryptocurrency users. He did not give specifics as to which tokens the school will accept for payment, however.

What you need to know

In February, the CBN announced in a circular that it had banned regulated financial institutions in the country from providing cryptocurrency-related services. Though the policy warned of “severe regulatory sanctions” for any bank that failed to comply with the directive from the apex bank, governor Godwin Emefiele clarified in March that the ban was intended to “prohibit transactions on cryptocurrencies in the banking sector” rather than discourage individuals from dealing in digital assets.

In addition, Nigeria’s apex bank promised to roll out its Central Bank Digital Currency (CBDC) in 2022 with the bank’s Director of Information Technology Department, Mrs Rakiyat Mohammed, stating, “digital currency will come to life even in Nigeria.”

Read Also: El Salvador to airdrop $30 in Bitcoin to its Citizens

RelatedPosts

Ghana in Trade Talks With US Over Tariffs and Renewal of AGOA, Says President Mahama

Local Bourse Posts 70% YTD Gain on Renewed Interest in Large-Cap Counters

Central Bank Advances Virtual Asset Regulation With Draft Bill and Industry Registration Drive

In case you missed it

The President of El Salvador in a press conference stated that the country will begin to accept Bitcoin (BTC) as legal tender from September 7, 2021, following the passage of the law into legislation.

Tanzania’s central bank also announced on Friday that it had begun working on directives from the government that could eventually overturn the country’s ban on cryptocurrencies.

In Paraguay, there are rumours of a Bitcoin bill that will be brought to the country’s legislatures very soon.

Back here in Nigeria, Bitcoin has witnessed stronger demand than in other countries according to data from Google Trends. The data shows that Nigeria ranks first among searches for Bitcoin, with Austria, Turkey and Switzerland in a close race for second.

Source: nairametrics
Via: norvanreports
Tags: Central Bank of Nigeria (CBN)cryptocurrency paymentsNew Oxford Science AcademyNigerian secondary school
No Result
View All Result

Highlights

In the Balance: Manchester United’s Dreams Hang by a Thread as Amorim’s Future Wavers

FIFA Vice-President Warns European Fans of Late Nights for World Cup 2026 Kick-Offs

UEFA Champions League: Late Drama as PSG, Arsenal, and Qarabağ Continue Winning Streaks

EIA Rattles Oil Markets With Reports of Crude Oil, Product Builds

Dams for Development? Unpacking Tensions in the World Bank’s Hydropower Policies

Chart of the Week: Dollar’s Share of Reserves Held Steady in Second Quarter When Adjusted for FX Moves

Trending

Business

Ghana in Trade Talks With US Over Tariffs and Renewal of AGOA, Says President Mahama

October 2, 2025

Ghana in Trade Talks With US Over Tariffs and Renewal of AGOA, Says President Mahama Ghana has...

Local Bourse Posts 70% YTD Gain on Renewed Interest in Large-Cap Counters

October 2, 2025

Central Bank Advances Virtual Asset Regulation With Draft Bill and Industry Registration Drive

October 2, 2025

In the Balance: Manchester United’s Dreams Hang by a Thread as Amorim’s Future Wavers

October 2, 2025

FIFA Vice-President Warns European Fans of Late Nights for World Cup 2026 Kick-Offs

October 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.