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NIGERIA'S FOREX CRISIS
Nigeria's Central Bank Governor, Olayemi Cardoso has stated that about $26 billion has passed through Binance Nigeria.
The depreciation of the Naira in the month of August was exacerbated by the inability of Nigerian banks to meet the surging demand for dollars forcing buyers to turn to the parallel market.
Depreciation of the naira and access to forex appears to be the most existential threat facing the sector