Quote from: KiaKia on October 21, 2023, 11:28:11 AM

Every currencies are highly facing inflation, 1 million dollars in 1985 is like have 30 million dollars today, even the dollar is facing the same fate but the dollar is a very valuable currency over Naira so yes people will see it as a safe haven to avoid inflation.

Where o you get those numbers from? A 30x devaluation of purchasing power?
1 million in 1985 would be 2.87 million now, nowhere near 30 million.
https://www.mclib.info/Research/Local-History-Genealogy/Historic-Prices/Historic-Prices-1985
By that metric, a 2l bottle of cola would have to be $30 now!
Gas was $1.12 it's $$3.5 where is the 30 coming from?

Let me put the naira into perspective, in 1985 the rate was 0.89, and now it's 1:1000, losing 1000 the purchasing power against the usd!