2. Regulation
CBN Ban (2021): The Central Bank of Nigeria banned financial institutions from dealing in cryptocurrencies.
Effect: This pushed most crypto trading to peer-to-peer (P2P) platforms like Paxful and Binance P2P.
Currently Binance P2P is out of the Nigerian market which we know that Many Nigerian can't trade or use Binance anymore, although you can only use it for trading but not directly selling USDNGN or Any other cryptocurrency to Nigeria Naira. And yes, your second post clearly starts more about most of the things you explained earlier.