From the first day I heard about the creation of the coin, it was obvious it would be a huge failure. I guess some people just stayed somewhere and figured out a way to launch a project where they will use to get money off the budget for themselves, because I see no reason Nigeria should have a coin at that time.
First of all, the country was and probably still against crypto, so why should people use your coin when you don't fully embrace crypto or bitcoin? They fess about accounts that made transactions labeled with anything related to crypto, yet they created a cryptocurrency. How does that make sense?

Secondly, nobody trusts the Nigerian government. The seriously cant expect people, which majority are youths to use their coin.
Finally, the coin is backed to the naira. I mean, that alone can hinder the success of the coin. Who wants a coin that is worth nothing and will always be worth nothing? There is a higher chance of the coin losing value that gaining value. The project was doomed from the very beginning and I think they knew that.