According to the BBC, the Nigerian government is asking for a $10 billion fine against Binance. Bayo Onanuga, the special adviser on information and strategy to President Bola Tinubu, disclosed this on Friday in an interview with the BBC.claimed that Binance profited from "illegal transactions" at the expense of the country's interests and that Binance affected foreign exchange rates through speculation on the country's currency, causing the naira to fall by nearly 70% in recent months. Binance is already under investigation in Nigeria after two Binance executives were detained there this week

Following the steps of the united states after slapping the crypto power house a huge fine of $4.3bn back in 2023

The CBN bank governor believes the crypto power has a major play in the dipping of the nigerian naira

Cryptocurrency trading platform Binance has made the decision to remove the Nigerian currency, the naira, from its peer-to-peer (P2P) service, prompting discontent and concern among Binance users in Nigeria.

This development coincides with reports that two Binance executives have been detained in Nigeria, with their passports confiscated. The executives had traveled to Nigeria to address the country’s ban on crypto exchange websites.

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