Nigeria turns to crypto as inflation surges and economy struggles
Nigeria faces soaring inflation and currency devaluation, driving citizens to cryptocurrency as a hedge, while the government moves to regulate digital assets.
Nigeria’s economy is facing a severe crisis, with rising inflation and a weakened currency creating hardships for millions of citizens. As traditional financial systems struggle, many Nigerians have turned to cryptocurrency as a hedge against economic instability. Digital assets have provided an alternative for preserving value, particularly as the country’s local currency continues to decline.
The government has introduced several economic measures to stabilize the situation, including removing fuel subsidies and unifying exchange rates. However,…
