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Binance Faces Intensified Scrutiny in Nigeria Amid Accusations of Impacting Local Currency
Binance is under heightened scrutiny in Nigeria, with allegations of contributing to the naira's devaluation, challenging the crypto exchange's regulatory dialogues.
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Nigeria's Foreign Investment and Crypto Adoption Dilemma
Foreign direct investment (FDI) in Nigeria fell by 33% in 2021 due to a shortage of dollars, which has also discouraged foreign crypto investment. Despite the exponential growth of crypto adoption in Nigeria, with active adult traders and high usage rates, the country has a problem attracting foreign investors.