Browsing: 2023 Nigeria elections


Nigeria’s blockchain space has significantly influenced the continent’s tech transformations within the last decade. With Nigeria starting to settle down with its new government, attention will be drawn to its development as Africa’s Crypto leader. President Bola Tinubu expressed great interest in the rapid crypto adoption in Nigeria during the presidential campaigns. Moreover, Nigeria is the first African country to launch its CBDC and stands tall in developing the crypto industry. President Tinubu promised additional plans to improve this idea.…

  • At the beginning of February, Nigerians started complaining that commercial banks could not supply individuals with Nigeria’s physical fiat currency.
  • The currency situation in Nigeria escalated to an all out crisis this week when an impending deadline for the ban of the use of old notes.
  • The Supreme Court on Wednesday, suspended the deadline to ease the tension that has been building up exacerbated by heated campaigns and a looming fuel crisis. 

In the middle of intense campaigns that will see three main presidential candidates battle it out in Nigeria’s 2023 election, the country is experiencing a shortage of the new Naira notes that threatens to take centre-stage before the West African nation goes to the polls from 25 February.

All Progress Party (APC) candidate Bola Tinibu, People’s Democratic Party (PDP) Atiku Abubakar and outsider Peter Obi of Labour Party are considered the front runners to take over from outgoing

Nigeria's presidential race nears its homestretch as elections draw closer

The elasticity of Africa’s democratic fabric will be tested in 2023, with high-stakes elections slated throughout the year. Across the continent, 24 countries are holding different polls in 2023. From national to local assembly elections, economies are forecast to experience minimal economic growth, to be compounded by effects of the Russian-Ukraine war. To boot, the respective currencies of these nations are forecast to continue depreciating against the dollar, amplifying inflationary pressures in tandem driving up dollar denominated prices of imports. This already has created a daunting ‘dollar doom loop’ quagmire, that has hitherto left a trail of devastation not only among these nations, but across the world, further retrogressing economic activities.

The state of Africa’s democracy was concerning in 2022, due to the resurgence of unconstitutional takeovers by military coups. Burkina Faso experienced two takeovers. There were failed coup attempts in Guinea Bissau, The Gambia, and the island nation of …