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 .