Huobi Global, OKX, Kucoin, Polonix, DigiFinex and many other exchanges are located in Seychelles, while no recognized one located in Nigeria.
we have the numbers but we dos not have the enabled environment for these exchanges. you known the Nigeria govt are not a big fan of cryptocurreny but i hope things changes soon because we deserve to have at least PAXFUL and Binance state office in Nigeria, these two are the most used and have been closer to the government for the past few years now, building building projects. I've known Seychelles as a tourism place never knew they are these massive.
Nigeria has lagged behind the rest of the world in implementing cashless policies, which is why our Naira has been losing value because there was an excess of money in circulation.
About money printing. If we focus on spending using online transactions, that means the money printing is online, there is no much differences. But online transactions is not anonymous, which will reduce manipulations from citizens, which can lead to lesser naira devaluation and lesser terrorism financing.
Limiting the amount of dollars in circulation is also happening; when the cashless policy is fully implemented, the $100 note will no longer be in banks; it is easier to move around with a $100 note, but it would be difficult to move around with a large sum of $20 notes. The cashless policy will then result in many locally made payment gateways, which will eventually create jobs. If we can reduce terrorist funding and criminal activity, we will have achieved a significant WIN.