I am posting this as a response to the article linked in #480605 where Nigeria is being given as an example where a CBDC is supposedly "up and working". It made me curious about the current status of the e-Naira and stumbled on this article.
Moreover, with cash withdrawal limits and currency redesigns, the situation worsened, triggering a cash shortage and escalating public dissatisfaction. Consequently, CBDC adoption in Nigeria remains abysmally low, with less than 0.5% of the population using it, while over 50% have embraced cryptocurrency. What can we learn from Nigeria’s CBDC failure?
EDIT: Related posts point to this interesting one by @KesterBils. Forwarding sats.