The Nigerian government "may impose heavy fines on Binance" but gov't official Bayo Onanuga insisted he "never said Binance had been informed about the fines or that it would definitely be $10 billion."
The Nigerian ‘crypto’ market is in uproar after government officials banned exchanges like Coinbase and Binance over their alleged “sophisticated heist against the Nigerian economy.”
Nigeria has now lifted a ban that it placed in 2020 allowing remittance payments only in the USD—experts say the move will re-ignite the dwindling remittances.
The Central Bank of Nigeria has moved to court to freeze the bank accounts of forex trading platforms, claiming they contribute to naira’s depreciation.
