According to local Nigerian media Kano Focus, the new Oxford University of Technology in Chiranchi, Kano, Nigeria, has adopted cryptocurrency to reduce tuition fees. Principal Sabi'u Musa Haruna stated that this decision was made after proper consultation with parents. In addition, the principal also urged the federal government to accept and formalize the cryptocurrency system as soon as possible.
Isn't cryptocurrency banned in Nigeria? I believe last month only the Central Bank of Nigeria came up with such directive that prohibits financial institutions from dealing in cryptos. If that is the case, then I must say that the Principal has taken a very bold decision going against the tide. Now it's interesting to see how the Government of Nigeria reacts to such steps.
Yes all financial institutions are still not allowed to deal in cryptocurrencies related transactions and the least I also heard was that, the Federal Government of Nigeria was thinking of creating its own digital currency so we will see how that goes because I know they are trying to create what they can control as they have no control over other cryptocurrencies. Anyways, this is a good and bold move by the School administration and hope the they are able to convince the Government as they said.