British economy was relied long on nigerian kind of countries the emerging markets called ones.
Nigeria was colonized by British which I think explained the deep bilateral relationship between Nigeria and British but you saying British relied on Nigeria which was said to be in recession is what i don't understand.
The british pound has no backer if they open economy
The scam will be revealed its not scam its just money.
Honestly, 90%of all fiat currency are backed by the government whilst US dollar is backed oil and gas. They are all scammer, they know the solution but ignore it by printing excess currency.