[vlovich123]

> The Naira has fallen 52% in the last 7 years under the current regime

How much has crypto grown in Nigeria? Is it possible that the migration to crypto / loss of faith in the local currency in lieu of USD is what’s actually behind the collapse vs government policies themselves?

[lottin]

It's usually a combination of both. When the local currency is unreliable, as a result of bad government policies, the locals will try get hold of a stronger foreign currency. They will sell the local currency to buy the foreign currency, which will contribute to the depreciation of the local currency, which in turn will make it even less attractive, prompting more people to sell, and so on so forth.