ABUHAKEEM_ENAGI

#NGN $BTC
Binance's Naira (NGN) P2P service, discontinued in early 2024 amid Nigerian regulatory pressure over alleged forex manipulation and naira devaluation, remains unavailable as of late 2025. However, restoring it would benefit Nigeria's crypto ecosystem and economy in several key ways:

1. Enhanced User Safety and Fraud Protection
Binance P2P's escrow system and verified merchants provide strong safeguards against scams, unlike informal channels (e.g., WhatsApp or Telegram groups) that many Nigerians have turned to since the suspension. These unregulated trades expose users to fake receipts, identity fraud, and disputes without resolution, increasing risks in a high-adoption market like Nigeria.

2. Better Liquidity and Competitive Rates
As the world's largest exchange, Binance offers deep liquidity, tighter spreads, and more reliable pricing for crypto-to-naira conversions. Alternatives like Bybit, KuCoin, or local platforms often have lower volume, leading to worse rates and slower trades. Restoring NGN P2P would give users efficient access to stablecoins like USDT for hedging against inflation.

3. Financial Inclusion and Economic Benefits
Nigeria has one of the highest crypto adoption rates globally, with millions using P2P for remittances, savings, and payments amid naira volatility. A regulated return of Binance's service could channel activity into a compliant platform, generating tax revenue and data for authorities while supporting unbanked users.

4. Alignment with Evolving Regulation
Nigeria has progressed toward crypto regulation, approving local exchanges and inviting stablecoin issuers post-2024 crackdown. Binance could comply with new rules (e.g., licensing, AML/KYC enhancements), turning past tensions into collaboration—similar to resolutions in other markets.

While concerns about currency stability were valid, banning major platforms simply shifts activity underground. Bringing back Binance Naira P2P under proper oversight would promote safer, more transparent trading for millions of Nigerians.