I agree with you on the cashless policy being a possible panacea to restoring the naira's lost value but then the policy failed again just like the e naira is failing and every other monetary policy of the current CBN regime is failing, the problem with the Nigeria nairas value is domestic and if the naira most regains its value it must start first at the local market and the rate of inflation need to really be cut down and that will require government direct involvement in the pricing of good and services within the economy.
Do you blame the CBN for the failure of the new Naira policy, aren't we the citizens lead by our governors that took the CBN to court and won in regards to use of the old naira notes and postponement of it seizure to be a legal tender until December 2023. Sometimes na we dey shoot ourselves for leg, even though CNB policy no for be the solution to our Naira devaluation but e fit give am small strength and we fit dey use that one work for the main time.
With the rate of Nigerians going into crypto trading, the rate supposed increase normally and I dey believe say very soon, the crypto traders go be the next target, make we dey watch how things go unfold, right now crypto trading dey get free pass but when the government go come for them, na war e go be. People dey think say cryptocurrency trading no dey get any influence for the forex market especially dollar rate but it's now one of the major influencers on the market, abi una never hear about crypto dollar rates?
Na this fear meself dey fear. The Government don try to hold control of the Naira by reproducing, by scarcity and by inflation. I dey surprised say OP's rate of Naira to Dollar which is 460 to 1$ is even merger compared to almost 750Naira to 1$ of which has been the rate of exchange before and during the just concluded elections.
Crypto just dey, but all man know say na the thing wey government dey target be that. If them begin collect taxes in form of charges from these crypto exchanges, e go mean say them acknowledge its existence and as such dey encourage all those wey don see the light to carry on and also pull those wey dey left behind, along.
Them know clearly say e dey better than yahoo yahoo, which don almost deface the country of its glory and men don tire to be chased by law enforcement for that.
The rate of unemployment go drop at least to the barest minimum and development go dey sure in every area.
It is now for the incoming government to strategically control crypto without actually interfering with the market. Small time, dollar rate go reduce too with its unclear adoption.
