naira

In other words, the naira has become weaker and more Nigerians use crypto now than before the ban.

I don’t know if the naira is going to meet up to the dollar anytime soon.

Emefiele has enforced strict currency controls and a multiple exchange rate system aimed at stopping the slide of Nigeria’s currency, the naira.

Nowhere is this clearer than in Nigeria, where the central bank is so worried about Nigerians choosing cryptocurrencies over the naira for overseas remittance payments that it is now paying them to use official channels for those transfers instead.