Originally posted on Quora March 31, 2023
In the wake of an orchestrated cash shortage, the central bank of Nigeria used the crisis as an opportunity to push the E-Naira, their version of a CBDC with all the features of CBDCs (digitally trackable and traceable, built in permissions and expiration etc.). Unfortunately for the central planners and confirmed WEF stooges, Nigerians have neither the infrastructure nor the knowledge or the will to use CBDCs.
“They want to put it out there to get people to use it, but people don't have enough places to use it,” said Nigerian native Adesoji Solanke, a director at Renaissance Capital, an emerging and frontier markets-focused investment bank that has a branch in Nigeria.“So you have this chicken and egg problem,” he said.
The majority of Nigerians do not have access to a SMART phone or the internet and some 43% of the population (and rising) don’t even have electricity in their homes and the ones that do experience regular blackouts. Out of all the countries they could have used as a pilot, the fact that the technocrats choose a third world African country is as baffling as it is stupid.
Why Nigerians Aren't Turning to The E-Naira Despite Crippling Cash Shortages