Referring to e-Naira, journalist Nick Corbishley said:A very dark experiment is underway in Nigeria”
and Tweet Posted on February 16th as Riot It has occurred in several Nigerian cities, but Kobishley said failure to convince citizens to adopt e-Naira led to doublings by the central bank.
“Since October 2021, 99.5% of Nigerians have refused to use the central bank’s digital currency, the so-called e-Naira, and continue to use cash. So what have central banks done? Doubled.“
Similar to what happened in India in 2016, when high denomination banknotes were eliminated, Corbishley noted that Nigerian authorities ruled on a similar move in December 2022.
“The goal is to make it much harder for Nigerians to use cash. And it’s working like a dream/nightmare. ”
this policy There was a severe cash shortage and businesses’ refusal to accept older denominations caused outrage and confusion.By the way, a general election is scheduled February 25th.
CBDC global rollout underway
Corbishley He said people would die, businesses would close, and daily life in the country would be upended, just like in India. However, according to Corbishley, the Nigerian government and central bank “Say the pain is worth it.
Citing data from the Atlantic Council, where 95% of countries are considering CBDCs, Corbishley said this financial experiment is headed in our direction.
