Quote from: Evergreenpost on September 04, 2025, 06:12:27 PM

It depends on the country and the people involved. Some African countries have not adopted the dollar as a means of settling debts or payments. In Nigeria, only a few institutions and individuals are into Bitcoin, and most of them see it mainly as an investment or an alternative to beat inflation.

However, Bitcoin can also be used for payments; whether by a country, an individual, or a household; if they choose to recognize it as such. But if they don’t see it in that light, then it cannot work effectively.

This is one of the areas I believe the government has failed in terms of her reforms and should have done something about it to change the system, this particular issue is one of the reasons why the value of the naira is way lower compared to the dollar, it should have been the naira that is being sought after for local and perhaps foreign transactions too, that way the naira would have been very strong, instead we have a situation where even local sourced goods and some other essential commodities requires the dollar for purchase, we really need to review some of these policies.