Nigeria is trying to curtail local dollar demand and keep the naira strong. This makes sense on the surface. If the naira loses value against the dollar, local goods and services may become super expensive and the poorest 90% will suffer.

Nigeria wants to control the flow of its money and has decided to create the e-Naira. Wonderful initiative as this would make it easy to move to the dollar.

Perfect example of being on the verge of being roasted, yet you pour fuel on yourself. The folks at CBN are smart, I’ll like to think. Truth is, governance is hard.