Political interests in Nigeria are also being sought after by the Chinese, who have been building railways, roads, airports, and mining companies in Nigeria while simultaneously cultivating good relationships with tribal and political leaders.
The governor of the Central Bank of Nigeria announced that by the end of January 2023, Nigeria would fully transition from physical cash to eNaira, the central bank's digital currency.
Despite assurances from the CBN that physical cash would not be eliminated until CBDC was fully operational, half of the nation was left with old, worthless banknotes! Commuters to and from the capital were left without cash to pay for their return transportation.
Even the brightest Nigerians were unable to understand how the government planned to eliminate existing cash and issue new money just a few weeks before the general elections scheduled for February 24, 2023.
As predicted, the new president of Nigeria is a representative of the ruling party, the same one responsible for the chaos.
Influential protectors from the IMF, the Fed, and even the White House, which singled out Nigeria as the global debutant of currency digitalization, remain silent.
People now know that there wouldn't have been such chaos if the currency digitalization was voluntary and not accompanied by cash delegalization.
https://mises.org/wire/how-cbdc-created-chaos-and-poverty-nigeria
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