A Year After Nigeria Launched It to Counter the Use of Bitcoin, the eNaira Is a Failure.

Nigeria is the first country in Africa to launch its own digital currency.

In Nigeria, the price of oil appears just below its key rate (15.5%) on the central bank's website. A rarity not even seen in the Gulf countries and reflects its heavy dependence on the country's black gold. But Nigeria's leaders are also following with apprehension another course, that of Bitcoin.

Indeed, the king of digital currency is not welcome in N…