The question is Nigeria government responsible for this increase? and if they are how to we solve this problem and get things back to normal
The government will not be able to country the black market price. The CBN controls the I&E before the naira unification, but as if now, I do not know if it is still about individual.
But, yes. The CBN controls the naira generally, so the government have control over the price. If the government wants ₦1 to become $1 today, they can do it.
But the matter is not about the government able to country naira or not now, the reason naira keeps depreciating so fast is become we depends more on imported products and depending on foreign services.
Now let’s talk about bitcoin. We all know bitcoin is a type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems, and which operates independently of a central bank.
And it is commonly used and talk about here in this forum.
Do not forget that this is a bitcoin forum.
I created wall observer for BTC/NGN for people to know that holding bitcoin could be better, but people stop posting on the thread. It was an interesting thread to me.
Bitcoin price speculation (BTC/NGN)