The citizens of Nigeria deserve a better financial system

The current economic situation in Nigeria is dire and only getting worse with the intentional orchestration of Naira scarcity by the Nigerian government and the central bank.

We thought this was going to be a thing that will end after the Presidential elections. Lo and behold, it’s a week since election has been over, yet the scarcity of the Naira situation is still prevalent.

They talk of replacing old notes with new ones, they enforced dead lines to submit old notes, then they don’t supply the public the ratio of what was retrieved, they supply much less such that it barely goes round. Cash is going into the bank and just isn’t coming out, some claim it’s the governments way of enforcing CBDC.

This situation has caused inconveniences for the citizens who struggle to access cash, as only a few people have access to new notes, leaving the majority to scramble and pay extra to get a hold of cash.

This situation has made it difficult to carry out everyday transactions, and online transfers are also failing due to congestion. If this situation persists, it will cripple the citizenry, making the already difficult economy even more challenging.

One solution to this problem is for Nigeria to adopt crypto, Bitcoin, which offers a borderless financial system that is not owned or controlled by any government.

Bitcoin could provide a sturdy financial system that would offer people an alternative to the Naira, and the government's hold on its citizens would diminish.

This situation highlights the need for a reliable financial system that is not subject to the whims of governments. Bitcoin is the answer to this problem, and Nigeria needs to consider adopting it now more than ever.

We used to say poverty is a weapon but Money has now become the weapon and not poverty as it used to be, because now, both rich and poor are facing the hardship of Naira scarcity.

The citizens of Nigeria deserve a financial system that is not weaponized against them, and Bitcoin could be the solution to their problems. I hope the world is watching and taking precautionary steps to avoid getting into a similar situation in future. I hope people are recognizing the freedom crypto brings beyond making money and are taking the right steps to secure themselves and break free.

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