Nigerian secondary school once accepted Bitcoin (Cryptocurrency) for tuition fee

[Churchillvv]

Back in 2021, A private school here in Nigeria announced they will be accepting bitcoin or cryptocurrency at large for tuition fee.

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.

However, on February 5 2021, the (CBN) Centre Bank of Nigeria already banned banks and/or financial institutions in Nigeria not to process transactions with crypto related activities yet don't make it clear that individuals shouldn't use crypto or trade it.

Meanwhile, few months later Sabi’u Musa Haruna announced that his school (a private secondary school in Kano) will be accepting cryptocurrency to reduce the stress parents who will want to use such payment method.
It was a brave act from him and I applaud him for that, I believe this is the first and only Nigerian to accept crypto in his school.

While surfing the internet, it caught my attention, and I realised that this kind of discussion has not been raised here in the local board meanwhile it was discussed in other boards and was praised however in Nigeria it already happened years back.

[Tungbulu]

Woooooow, wonders shall never end, so Naija take crypto serious like this??
Funny enough, assuming say our government no follow draw us back when e come to crypto, Naija for don already Dey take advantage of the innovative opportunities wey come with Bitcoin and crypto at large. If you check some other countries now, them don extend blockchain technologies to other sectors and not just the financial sector. Them don Dey extend am from security, data analysis, educational, agriculture and several other sectors. Na all these things our country for Dey enjoy now, if no be say our government just draw us back for this side, making us to no put attention for that side.

[Zanab247]

If not that BTC and crypto was banned in the Banks are financial institutions in the country, Nigerian would have be the highest crypto users in the world because people have started accepting BTC and crypto in their various schools and businesses, before the central bank governor banned BTC and crypto transaction in the banks and other financial institutions. Do you know that many parents was comfortable with that BTC and Crypto acceptance for school fees payment, because they know that such school that accept BTC and Crypto in the school will have potential knowledge to impact cryptocurrency to the students.

Since BTC and Crypto was banned in the country, I have not see any school or business that accept BTC and Crypto because there are some strong punishment the central bank governor has put in place, that is making people not to involve BTC and Crypto in their businesses.

[Charles-Tim]

It was discussed on this board but it is embedded in that long thread. I think I was the one that brought it that time.

There was another one about an hotel that time there also.

[Roseline492]

I see why it was possible for the person because people from that part are hardly imposed on anything unlike other part of the country because is only people that has power on the federal level will continue publicizing what could attract a lot of eyes on but meanwhile if all the schools in the country now all made Bitcoin payments as an optional payment system then we could be having a general cryptocurrency quality atmosphere in this country because government cannot change there mind any day and decided to shut down all those schools because of that. Now everybody they do am code so that the public no go see them and I no say e get plenty things way some private school they run by Bitcoin but nobody go no unless say them no you as that kind of person.

[EluguHcman]

However, on February 5 2021, the (CBN) Centre Bank of Nigeria already banned banks and/or financial institutions in Nigeria not to process transactions with crypto related activities yet don't make it clear that individuals shouldn't use crypto or trade it..

No there had not been a historical time the government regulatory crypto policies has ever affected or implied that individuals should not take their personal decisions on Crypto currencies but orders was only effective on the regulatory finance institutes.

Meanwhile, few months later Sabi’u Musa Haruna announced that his school (a private secondary school in Kano) will be accepting cryptocurrency to reduce the stress parents who will want to use such payment method.

Yeah i heard about the Sabi’u Musa Haruna announced that his institution will be accepting Crypto currency for students guidance to facilitate tuition payments in his school which spiked his inspirations from the El Salvador curtailing the stress of centralized banking methods when processing transactions resulted to their legal tenders of cryptocurrencies for means of payments in her country.

Somewhere around when Mr Musa made the public news, I can remember he made mentioned of accepting Doge coin, Tron coin and few others coins which I can not remember entirely.

That announcement alone is sure to foster encouragement of the students and as well others to find interest on cryptocurrency.

Indeed the race of cryptocurrencies to had come this far has not been a thrive of the governments but as institutions as that of Mr Musa's influence following his vision but don't be such a haste to give the news a kudos because since then he made the announcement there has not been further update pertaining the vision and no one has ever confirmed if the exercise of schoolers paying their tuition with crypto currencies is still valid or not.

[Samlucky O]

Back in 2021, A private school here in Nigeria announced they will be accepting bitcoin or cryptocurrency at large for tuition fee.

Yes that is true. But the important thing there is that the law didn't affect people using wallet P2P. Like those who uses decentralized wallets like trust wallet, electron wallet etc. this mostly affected banks, because this law was given specifically to hunt any account with a memo or description of cryptocurrency or Bitcoin. So if you use a dex p2p during those time government policies will not affect you because it's not a fiat p2p that may implicate.

[Marykeller]

I believe this one is in the past, not many people for this our country go remember this wan be happen around 2021 before crypto was banned by the government via transacting it with banks.

However, em d good sae from time to time we go remember each other the kind things wey been done happen for this our country wey some people don't know. Me sef I no know about this, I am getting to know about this now sha. You don try for bringing this up, at least to keep us informed about sae Nigeria don once crypto payments for secondary school

[GiftedMAN]

Woooooow, wonders shall never end, so Naija take crypto serious like this??
Funny enough, assuming say our government no follow draw us back when e come to crypto, Naija for don already Dey take advantage of the innovative opportunities wey come with Bitcoin and crypto at large. If you check some other countries now, them don extend blockchain technologies to other sectors and not just the financial sector. Them don Dey extend am from security, data analysis, educational, agriculture and several other sectors. Na all these things our country for Dey enjoy now, if no be say our government just draw us back for this side, making us to no put attention for that side.

Even now men still take crypto very seriously no matter say our government dey do everything possible to frustrate people wey dey into crypto investment for the country simply because dem no get hands to dey do their corrupt practices for the matter and dem no get control over cryptocurrency traders and investors for the country. If you check well some of the countries wey don accept crypto don dey benefit small small and changes don dey happen for dia country in de areas wey you don already mention but I believe say the reason why our own government no wam support and approve crypto for the country na because dem no need de progress of the youths and dem no wam make our people dey independent our government wam make suffering dey for the land so that dem fit bend her citizens any time to get whatever dem want.

[Yucky]

With all the constraints on crypto from the Nigerian government, it's hindering progress, weove one step forward and 2 steps backwards. They're making it uncomfortable for companies to operate in Nigeria. If they stay, they'll likely increase prices for us, adding extra costs, probably due to taxes.

If crypto adoption in Nigeria hadn't faced these challenges, it would have been more in use. Some companies accepted crypto payments initially, but had to revert to cash. Like you can see  even schools tried using crypto payments.

It seems that if something doesn't directly benefit the government, they'll look for ways to shut it down. Since they can't collect taxes directly from crypto and bitcoin users, they target crypto exchanges and companies. Increasing taxes for them means higher exchange fees for us. The Nigerian government is just something else.

[Tungbulu]

Even now men still take crypto very seriously no matter say our government dey do everything possible to frustrate people wey dey into crypto investment for the country simply because dem no get hands to dey do their corrupt practices for the matter and dem no get control over cryptocurrency traders and investors for the country. If you check well some of the countries wey don accept crypto don dey benefit small small and changes don dey happen for dia country in de areas wey you don already mention but I believe say the reason why our own government no wam support and approve crypto for the country na because dem no need de progress of the youths and dem no wam make our people dey independent our government wam make suffering dey for the land so that dem fit bend her citizens any time to get whatever dem want.

Very true.
Publicly our government claim to be crypto friendly and have accepted the use of crypto in the country but na only us wey dey into the business know how e really be for the country. The funniest part be say, many of those government officials wey Dey worry crypto users na still the same people wey Dey seize the opportunity wey crypto Dey give to Dey launder the money wey them don thief from us.

Na true you talk and I agree with you hundred percent about the government no wanting the progress and growth of the youths in this country, them already know say youths na the leaders of tomorrow and due to the fact say power no Dey bellefull them and them no wan give the youths chance to even exercise their power, they choose to make life miserable for all of us, so that them fit use that avenue to control us whenever them want. All the things wey supposed reach us in other to give us brighter future, them don carry am out for their pocket, turn this country to OYO (on your own). God go soon punish them finish sha cos me I know say anything person sow, e go reap am finish.

[Odohu]

Low-key a lot of businesses accept Bitcoin in Nigeria but they will never make it public except for people they know are core Bitcoiner. This is to avoid exposing their business to government wahala because we all know that our government have not been consistent with their Bitcoin related policies. It would be wise for a business to face sanctions or action freezing just because they accepted Bitcoin amd use exchanges which we know that this government have accused of being responsible for the crash of the Naira against the dollar. To avoid this risk, most businesses only accept Bitcoin from people they trust that are not connected to the authorities.

[Rgram]

I believe this one is in the past, not many people for this our country go remember this wan be happen around 2021 before crypto was banned by the government via transacting it with banks.

However, em d good sae from time to time we go remember each other the kind things wey been done happen for this our country wey some people don't know. Me sef I no know about this, I am getting to know about this now sha. You don try for bringing this up, at least to keep us informed about sae Nigeria don once crypto payments for secondary school

Yes true, na now me I dey hear am as well..
And it’s a good things because I believe once them lift the ban a lot of school and big big institutions go go in massively this time..and E go also create more awareness and broaden the minds of Nigerians esp the elderly once about cryptocurrency and digital currencies to come get as well make them too follow for the New World.

[Cryptoprincess101]

Low-key a lot of businesses accept Bitcoin in Nigeria but they will never make it public except for people they know are core Bitcoiner. This is to avoid exposing their business to government wahala because we all know that our government have not been consistent with their Bitcoin related policies. It would be wise for a business to face sanctions or action freezing just because they accepted Bitcoin amd use exchanges which we know that this government have accused of being responsible for the crash of the Naira against the dollar. To avoid this risk, most businesses only accept Bitcoin from people they trust that are not connected to the authorities.

This is true, i have seen a club that accepts payment in bitcoin and even some big hotels in the city also do accept payments in Bitcoin and USDT and just like you said they do it codedly with people they know they also operate in bitcoins especially with those influential celebrities and all these yahoo boys. Already, a lot of people are into bitcoin and operating codedly to avoid harassments from government agents and if you observe very well you will know that some big businesses do accept bitcoin as a payment method, some does this to also boycott taxes by the Nigerian government.

[Africolo]

I believe this one is in the past, not many people for this our country go remember this wan be happen around 2021 before crypto was banned by the government via transacting it with banks.

However, em d good sae from time to time we go remember each other the kind things wey been done happen for this our country wey some people don't know. Me sef I no know about this, I am getting to know about this now sha. You don try for bringing this up, at least to keep us informed about sae Nigeria don once crypto payments for secondary school

Cryptocurrency is general and consider a good sector to anticipate. I trust the process and practice it. This country wey government head no correct? Dem go green accept bitcoin as legal means of payment? I no think am say e go de possible. The government dey always accepts weytin go favour them, dem no dey do the one wey no go benefit. I tire to complain for the current situation of the country, e no go ever better for this country, instead e go de worse as the day passes by.

We suppose say these top firms for the country de buy Gold and trade am, so no be new thing say crypto no come up for their eyes. I just de pity the ignorant category of people wey still de doubt say bitcoin na scam, the world is advancing and e go bad if person remain for dark.

[Hewlet]

However, on February 5 2021, the (CBN) Centre Bank of Nigeria already banned banks and/or financial institutions in Nigeria not to process transactions with crypto related activities yet don't make it clear that individuals shouldn't use crypto or trade it..

No there had not been a historical time the government regulatory crypto policies has ever affected or implied that individuals should not take their personal decisions on Crypto currencies but orders was only effective on the regulatory finance institutes.

Even though banks are the ones that are primarily not allowed to carry out crypto related transactions, public institutions like the schools sometimes face criticism when they directly get themselves involved in cryptocurrency let alone make use of it as medium of payment for her tuition fees. It only takes an administrator that knows the extent of his right to adopt bitcoin in her institution even though the government has the ability of attempting to truncate the smooth running of such an innovative idea.

Also, apart from secondary schools adopting bitcoin, a lot of students in secondary schools have the knowledge of bitcoin and are benefiting from bitcoin even while they are in school. Even above what we think, bitcoin has reached a wide range of users that are secret investors and that are not even known in the public but are at the same part very much a part of the bitcoin community.

[Spaceman1000$]

I enjoy the fact that Nigerian institutions are accepting cryptos for fees but one thing i want Nigerians to improve upon is there knowledge on cryptocurrency and how it works, when institutions are creating their payment system and are giving crypto payment options, the awesomeness is been awakened, which is why i was bit upset in my spirit that CBEX successful scammed Nigerians, if they had known or where well knowledgeable about cryptocurrency and how it works, they would know that the company was a fake crypto exchange company.

[CryptopreneurBrainboss]

While surfing the internet, it caught my attention, and I realised that this kind of discussion has not been raised here in the local board meanwhile it was discussed in other boards and was praised however in Nigeria it already happened years back.

We done get this kind discussion before and I remember commenting on it, e get when churches too been come out to dey accept tithes for crypto. Infact many businesses and establishments they accept crypto low key for the county but then dey avoid to loud am because them understand how the government for the country dey work so no body go wan dey the government bad side because them go use power intimidate you and probably give you allegations wey you o go for come out from and even though you succeed, you might have spoiled the name of your business and people will avoid associating with you and na why people dey do their things low key.

Officially I don't support going against the government laws so if Nigeria say Bitcoin na illegal for the country, make e stay that way and when things change then we can come out openly to accept it to avoid government wahala. The worst wahala you fit enter na to dey problem with government especially for a country wey corrupt like this.

[Promocodeudo]

Low-key a lot of businesses accept Bitcoin in Nigeria but they will never make it public except for people they know are core Bitcoiner. This is to avoid exposing their business to government wahala because we all know that our government have not been consistent with their Bitcoin related policies. It would be wise for a business to face sanctions or action freezing just because they accepted Bitcoin amd use exchanges which we know that this government have accused of being responsible for the crash of the Naira against the dollar. To avoid this risk, most businesses only accept Bitcoin from people they trust that are not connected to the authorities.

Yes of course they do accept but at the same time they are also very careful on whom to transact with just as you said, we understand how our system is here, our system is not all that crypto (Bitcoin) friendly so any establishment, institution or individual accepting Bitcoin as a mood of payment for their sarvices or whatever purposes will be doing  that with their trusted business associates, although we've heard and seen different news from government officials sounding as if they support cryptocurrency, I think many Bitcoin enthusiasts are not satisfied with such development, some person's are still seeing it as a trap which could also be true if we cross check things thoroughly, I think your conclusions are very excellent, with the hand writing on the wall, the government has done some things as such they can't be trusted in things like this and I won't blame anyone that chose to be careful not to a victim of any of their antics.

[Zaguru12]

However, on February 5 2021, the (CBN) Centre Bank of Nigeria already banned banks and/or financial institutions in Nigeria not to process transactions with crypto related activities yet don't make it clear that individuals shouldn't use crypto or trade it.

Meanwhile, few months later Sabi’u Musa Haruna announced that his school (a private secondary school in Kano) will be accepting cryptocurrency to reduce the stress parents who will want to use such payment method.
It was a brave act from him and I applaud him for that, I believe this is the first and only Nigerian to accept crypto in his school.

It is a good step towards bitcoin adoption but this ban was more like a shadow ban and didn’t actually made bitcoin all illegal in the country as the ban was for bitcoin conversion to the local currency (Naira) and banks were instructed to freeze account of the users involved, the acceptance of it to your personal wallet was still possible since it wasn’t banned totally. This is the reason why this school actually was allowed to continue and even other local businesses most especially online made use of it.

My honest opinion has always been whenever the government bans things like cryptocurrency and publicly put it as illegal we should treat it as such and move discreetly because no matter how much we want to advocate bitcoin and it technology our wellbeing or safety matters most that’s even the reason why bitcoin existed at first.