Intro
00:00:00In Nigeria, there is a growing trend towards implementing digital IDs for tracking movement and central bank digital currencies for all transactions. This has raised concerns about privacy, restrictions on cash usage, and the sharing of social media information to create a bank account. Nigerians are fighting back against these measures in order to protect their rights and freedoms.
Nigeria Crypto, Economy
00:00:40Nigeria leads the world in crypto adoption, with up to 50% of Nigerians using crypto regularly. This is despite the government banning financial institutions from working with crypto. The high adoption rate can be attributed to Nigeria's large unbanked population and economic challenges caused by a collapse in oil prices in 2015.
American Influence
00:03:54The United States and China have been trying to influence Nigeria for decades, including interfering in its elections. The World Bank, closely allied with the US, has issued multiple loans to Nigeria with conditions that support US interests, such as restrictions on fossil fuel development and the implementation of a national digital ID system.
Chinese Influence
00:07:31China has been heavily involved in Nigeria's infrastructure development, including railways, roads, electricity, ICT, and oil refineries. However, China's presence has had negative effects on the local population due to flooding the market with cheap goods that have led to faulty infrastructure and unemployment. Additionally, despite these issues and Nigeria's financial debts to China and other countries being a significant concern for its economy, the Nigerian government seems to be expanding its relationship with China.
Domestic Corruption
00:11:37Nigeria's government is plagued by corruption, with officials embezzling billions of dollars in oil revenues. This has led to a lack of trust in international organizations and suspicion towards countries like China. The government's actions contradict their claims, as they roll out digital ID and CBDs for financial inclusion while lacking reliable physical infrastructure for adoption.
CBDC, Digital ID, Cash Bans etc.
00:14:11Nigerian officials are pushing for the adoption of CBDC and cash bans to potentially receive more World Bank money. However, these measures have faced backlash from Nigerians who fear loss of their savings and restrictions on freedom. The collapse of the physical naira has led many Nigerians to turn to cryptocurrency as an alternative.
How To Protect Yourself?
00:16:32Assess the risk level in your country based on its dependence on international organizations and funding, as well as corrupt officials. Then, determine if your country has the capability and willingness to implement dystopian technologies. If so, ensure that alternatives like cryptocurrency and cash remain legal to protect yourself against this system.
Outro
00:20:17The narrator concludes the video by encouraging viewers to like, subscribe, and share the video. They also mention storing sets in a safe place and using a reliable crypto exchange for accumulation. The narrator thanks viewers for watching and promises to return soon.