The Nigerian government believes that Binance played a significant role in the devaluation of the Naira due to its users manipulating the Naira price using the P2P feature of the platform.

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The Nigerian government believes that Binance played a significant role in the devaluation of the Naira due to its users manipulating the Naira price using the P2P feature of the platform.

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Crypto exchange Binance is one of the alleged currency manipulators or enablers that drew the ire of the Nigerian government.
The crux of these issues is that Binance played a role in the dramatic fall of the naira value for the past six months as its users were manipulating the naira price with its P2P feature.
Many people, however, speculated the Nigerian government was behind the suspension [of P2P trading on Binance], as it believes Binance played a significant role in the devaluation of the naira.

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Nigerian government accuses crypto exchanges of fueling Naira depreciation