Nigerian currency (video screenshot)
(ZEROHEDGE) – A staggering number of Nigerians love Bitcoin, but hate government cryptocurrency (CBDCs). In April, leading cryptocurrency exchange KuCoin noted that 35% of the adult population in Nigeria – roughly 34 million adults aged 18-60 – own bitcoin or other cryptocurrencies. But when it came to the country's Central Bank Digital Currency (CBDC), the eNaira, it was a massive failure.
According to Bloomberg, only 1 in 200 Nigerians use the eNaira – despite government implemented discounts and other incentives, implemented as desperate measures to increase adoption.
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Now, the government is looking to boost digital payments by limiting ATM withdrawals to just 20,000 naira, or roughly U.S. $45 per day, Bloomberg reports, citing a circular sent to lenders on Tuesday. The previous withdrawal limit was 150,000 naira (US$350).
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