You can pay school fees directly with crypto in Nigeria

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The central bank may have kicked the crypto movement in the balls, but that hasn't stopped it from moving in the right direction. In fact, after the ban, Nigerians just switched to onboarding mode, invariably increasing interest and onboarding even academic institutions into the mix.

Amongst the recent converts, we have a secondary school situated in Kano state that is roughly three hours away from my city. The school named New Oxford Science Academy in Kano recently declared their intentions to accept cryptocurrencies for payment of school fees.

This move comes despite the central Bank's insistence on holding on to the silly cryptocurrency ban they placed on financial institutions from facilitating transactions. However, since this ban doesn't outlaw the use or hodling of crypto by individuals or businesses, it is within the rights of the secondary school to accept it.

Speaking on behalf of the school, Sabi’u Musa Haruna thethe director of the New Oxford Science Academy in the Kano suburb of Chiranchistated that;

“We’ve decided to accept cryptocurrency as school fees, because the world today is tilting towards the system,” said Haruna. “We believe one day digital money will gain more acceptance than paper money.”

Pressure the oppressor

Judging by the reaction of politicians, it is safe to say that the central Bank's decision was unsolicited. In fact, in a somewhat ironic twist, politicians, who I presume have some investments in crypto, have been fighting the "right cause".

The only reason why we're still holding on to this situation is that there are stubborn and corrupt boomers holding the executive positions. In Nigeria, most of the governing policies were made during the military era, so our legislators are just there for design.

Regardless of the situation, people have continued using and trading cryptocurrencies in Nigeria. The ban on financial institutions may have affected the trade but people can still easily convert crypto to naira when the need arises.

Also, there are more institutions accepting cryptocurrencies in the country. A close look at the Travala hotel listing shows that there are numerous hotels and flights that you can book with crypto.

A new generation of hodlers

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Another interesting part of this move to accept crypto by the school is that it will create a new generation of crypto enthusiasts in the country.

Naturally, since the school accepts cryptocurrency as payment, they will have to educate both parents and students about the digital assets. Through this simple process, the school will be onboarding both the young and older generation, thus making the society at large more crypto friendly.

So from a young age, students will develop interest in cryptocurrency. The parents will also benefit greatly from this move because imagine how awesome it will be when some of them realise they could just stake LP tokens to pay school fees of their kids regularly. Alternatively, imagine how awesome it will be for transparency, when the school decides to tokenise certain aspects of learning and maybe even introduce NFTs into the model.

The point is that there's limitless potential to where this could go and I believe this is just the starting point. Nigeria will be a hub for crypto adoption because it is not just a matter of convenience, we NEED cryptocurrency. In the long run, I believe the exploits of El Salvador will pale in comparison to Nigeria because while theirs is state funded, ours embodies the Decentralised and autonomous nature of the crypto industry.

Nigeria is bullish about crypto

So, regardless if what the government may do, cryptocurrencies and Nigeria are best friends. The union is a perfect match, for a country embroiled in many layers of problems.

As the interest continues to grow amidst the noise from FUD and Bulls in the market, the powers of the anti crypto forces will wane. The government will try and as usual they'll fail because they forget that they can't use paper to stop a moving train in it's track.




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24 comments
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" Nigeria is bullish about crypto
So, regardless if what the government may do, cryptocurrencies and Nigeria are best friends. The union is a perfect match, for a country embroiled in many layers of problems. "

I would prefer you use the word "nigerians".........anyways whether the government likes it or not,many nigerians that understand cryptos will always make use of it and support it and invesy on it..


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I hope the government doesn't come for their head or another policy to stop that completely.

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Fingers crossed. Though I doubt they will.
While I was at Warri, I saw many places where they openly declared that they buy and sell crypto.

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Fuck the government. But thanks to their crypto ban, more Nigerians are exposed to it. ;)

Yesterday I heard the news about a private college in Paraguay accepting fees in BTC & ETH. Today, a school in Nigeria doing the same. We are living in exciting times brother. We need more young people in crypto.

More power to you guys!

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It is ironic how it often works that way. It goes in reverse. They ban it and more people want it.

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I think it's because everyone knows that the government doesn't actually have their interest at heart. So whenever the government bans something, they know damn well it will empowering them and they go for the banned thing.

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Not everyone in Nigeria still want to welcome the idea of using crypto and the reason for this is not far fetch. This is because the government banned the use of crypto though they are now trying to reconsider it anyway


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This is indeed great news. It will alert many Nigerians to the option of crypto. The more people hear of it, the less they will buy into the FUD.

Hopefully Nigerians start coming to Hive and seeing the potential that is offered here. Leofinance provides a great place for them to start their crypto education.

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Yup. Giving it this kind of use-case will increase it's appeal by 100 fold.

"Social media that pays school fees" 🤝

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Nigeria is certainly ahead of what many countries have achieved, as they see cryptocurrencies as the founder of bitcoin saw them.

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cryptocurrencies and Nigeria are best friends.

You're totally right with this, no matter what the government do Nigerian still trade and fund their Bitcoin wallet.

I'm totally disappointed In my country Nigeria at first I don't get the reason why they barn the use of Bitcoin and also stop financial institution to fund crypto currency platform.

The issue here is the banks and the financial institution are the once suffering it because individuals did not back down on Bitcoin rather they tend to fund and acquire crypto currency through other means.

The school named New Oxford Science Academy in Kano recently declared their intentions to accept cryptocurrencies for payment of school fees.

I don't really know how true this is but is so funny to me and there is no way a school will declare they receives crypto currency as school fees knowing fully well the government placed barn on it and bank don't have license to facilitate it.


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Actually, the government only banned financial institutions, and they cleaned their hands off it, meaning they will not protect you if you lose your money or get scammed.

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Yes they did actually, they barned crypto currency and close all means in which anyone will be able to trade crypto.

The question am asking is this why will the government barn crypto and a school is accepting crypto as a means of paying school fees?


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