As I've always said, Binance is not the only country dealing with Nigerians and many are not registered in Nigeria. I am also certain that many countries' citizens are dealing with Nigerian businesses without the Nigerian business having any presence in their country despite financial flows happening. So what? The Nigerian government should have used their senses in this case instead of playing towards the path that would make them lose totally. I wonder about their (government) gain when those guys served their jail terms and still earned nothing from Binance which has claimed many times that it does not have any presence in the country.
All this attempts will not hold water if Federal Government fails to the right thing , Since that they've held Binance executives for quite some months now ,What have they done to other exchanges is this just only targeted on Binance, because I'm quite sure that majority of Nigerian Bitcoin enthusiasts and traders have resorted to using other platforms for their transactions, things can't stop this way ,If they can't put measures in place to strengthen the Naira, by increase local production and thus increase exportation, build factories or things that will attract foreign investors, it only just a matter of time the Naira will further depreciate against the United states dollars,the real of this Naira appreciation hasn't been priced into the economy.
Even as of today the Naira is trading at $1/#1390 against the dollar since the IMF news about the CBN is only defending the Naira with the dollars in their reserves, that the recent Naira strength has no real impact to the economy, whilst the price of goods and services are still on the increasing side.