Our import is far more than export, 70% of our export is crude oil. Goods and services that we need to generate internally are not generated but imported, that is the cause of what is happening in the country, no job no work.
If commenting about the poor standard of living and the bad economy, I do not see how aboKiFXis is linked to it. CBN president that says cryptocurrency transactions are illegitimate, we should expect a lot of these types of misleading information from him.
I am thinking the CBN president only want naira exchange rate to be from the CBN or others that will have lower prices like MoneyGram or Western Union, I still do not understand. Or, why is the he not saying those like Western Union are manipulating too? Because they have a complete different exchange rate which is much more lower than the CBN rate.