Nigeria has intensified its regulatory measures against Binance, one of the world’s leading cryptocurrency exchange platforms. The Nigerian government has demanded a staggering $10 billion fine from Binance, alleging its involvement in illicit activities within the country’s crypto space as well as linkages to the currency devaluation. As part of its efforts to maintain stability in its local currency amidst increasing crypto transactions, Nigeria has taken a firm stance against Binance. Bayo Onanuga, special adviser on information and strategy to President Bola Tinubu, highlighted Binance’s purported engagement in illegal transactions, emphasizing the significant impact on Nigeria’s financial ecosystem.