Now back on the topic, the problem is not peculiar to just Nigeria, as of today there are only about 2 countries that have made Bitcoin a Legal tender, the thing is that most governments would not adopt a decentralized currency, for obvious reasons of course. Having said that, with the effects of the covid-19 pandemic still biting hard, causing a high level of inflation and devaluation of national currencies, making Bitcoin a Legal tender is the last thing most countries would be thinking of at this very time, because it does not help their cause to bring about a stable general economy/currency.
Coyster dey reason with me from the same angle. One day I begin ask myself why government dey fear Bitcoin and crypto to adopt them. I understand say, as individual those people fit like crypto, but as a government, e go hard for them to adopt the bitcoin.
Crypto get plenty advantages but yet disadvantages dey too.
Even if I become president of Nigeria today, the best I will do is to remove the ban on banks and stop all harassment because of crypto. But I go do wider consultation before I go officially adopt bitcoin as a legal tender if actually I will.
Crypto go kill naira the more if adopted officially. Check majority of us wey sabi crypto no get fiat again. Only when we want buy something, we go convert coin to fiat and buy. This means that if crypto is officially adopted, naira utility will reduce drastically and will make the value of naira to further crash.
Make we pray for the right decisions because NGN is wash already, any further deflection on it will throw it into oblivion.