Quote from: btc78 on Today at 02:19:15 AM

Quote from: lalabotax on June 30, 2021, 11:09:25 PM

Quote from: avikz on June 28, 2021, 06:17:34 AM

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, it is very interesting.
This is a private school and he also wants to urge the government to embrace and also regulate cryptocurrency in the country.
https://nairametrics.com/2021/06/26/nigerian-secondary-school-to-accept-cryptocurrency-payments/

But, I wonder how can they decided it when the government is against cryptocurrency. WIll it be a matter or will they likely warn the school to obey the regulation?
But, that is a private school, maybe in the country, there are different regulations for the private schools, freer maybe.

If this is real then how can that school manage to accept crypto when they will surely be called by the government for not following the law and may be get against them?

and also since the government will not allow anything transacting with crypto then how can this school manage to use the crypto they will be accepting?

some question that needs to be answered first before we finally understand and accept this reality .

I think the private school is not included in the ban of usage of cryptocurrency. If the school will not deal with the bank using crypto, then, I guess, it is fine. It is in the banking sector that they prohibit the crypto transactions. Outside of their business, I believe, people are still free to use crypto.

https://www.coindesk.com/nigeria-central-bank-bitcoin
The CBN did not place restrictions from use of cryptocurrencies and we are not discouraging people from trading in them, said Lamtek. “What we have just done was to prohibit transactions on cryptocurrencies in the banking sector.”