EXPLAINER: Is Binance exit from Nigeria a ‘blessing’ to naira?

Binance is a cryptocurrency exchange platform founded in 2017 by Chinese-Canadian developer, Changpeng Zhao (aka CZ). Zhao’s company, Beijie Technology, created the exchange after successfully raising $15 million. Binance started operations in Nigeria around 2020, but has now discontinued operations as the federal government considers it as the biggest threat to the naira…