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Steve Hanke, a professor of applied economics at Johns Hopkins University, has attributed Nigeria's economic instability to the policies implemented by the Central Bank of Nigeria (CBN), including significant increases in the country's money supply. Contrary to some perspectives, Hanke insists that cryptocurrency is not responsible for Nigeria's economic challenges.
"With the naira PLUNGING & inflation SURGING, NGA has hit the PANIC BUTTON – recently forcing Binance to halt its operations," said Hanke, according to X. "Crypto speculation is NOT the source of NGA's problems."
According to Johns Hopkins University's website, Hanke is the founder and co-director of its Institute for Applied Economics, Global Health, and the Study of Business Enterprise. He also holds senior fellow positions at both the Cato Institute and the Independent Institute. His previous roles include serving as a senior economist on President Reagan’s Council of Economic Advisers and as a senior adviser to the Joint Economic Committee of the U.S. Congress.
