CBDC adoption in Nigeria soars as fiat currency shortage grips the nation
The severe shortage of cash in Nigeria was due to the central bank's decision to replace old banknotes with larger denominations in an environment of rising inflation.
![CBDC adoption in Nigeria is increasing due to shortage of fiat currency the nation](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror= redirect,quality=90,width=1434/https://s3.cointelegraph.com/uploads/2023-03/80d6ce17-208b-4099-829b-34b077d216de.jpg)
![CBDC adoption in Nigeria soars as fiat currency shortage grips the nation](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvODBkNmNlMTctMjA4Yi00MDk5LTgyOWItMzRiMDc3ZDIxNmRlLmpwZw==.jpg?#)
The severe shortage of cash in Nigeria was due to the central bank's decision to replace old banknotes with larger denominations in an environment of rising inflation.
![CBDC adoption in Nigeria is increasing due to shortage of fiat currency the nation](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror= redirect,quality=90,width=1434/https://s3.cointelegraph.com/uploads/2023-03/80d6ce17-208b-4099-829b-34b077d216de.jpg)
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