According to BBC news, in Nigeria, where the pressure against Binance has intensified recently, the government demanded a $10 billion fine from Binance due to “speculations” on foreign currency-naira.
Bayo Onanuga, a special advisor to the Nigerian president, claimed that Binance was profiting from illegal transactions, damaging the country's financial system, causing the country's fiat currency to fall by nearly 70% in recent months.
The news also stated that two Binance executives were detained and their passports were confiscated.
Apart from these statements, the Nigerian National Security Office (ONSA) also announced that an investigation has been launched into Binance's activities.
ONSA Head of Strategic Communications Zakari Mijinyawa confirmed that there is an inter-agency effort to examine Binance's activities in Nigeria.
*This is not investment advice.