Nigeria

USD/NGN remains compressed inside a multi-year symmetrical triangle as traders watch whether naira strength can force a deeper downside move. Stronger foreign exchange inflows have improved dollar supply, but oil revenue risks and import demand remain key pressure points.

USD/NGN is coiling inside a multi-year symmetrical triangle as moving averages compress near key support, keeping traders alert for a directional break. Stronger foreign exchange inflows have helped the naira, but oil revenue and import demand remain critical risks.

In January, Binance faced demands from unidentified individuals, leading to a refusal to settle allegations.

Nigeria intensifies its confrontation with Binance, requesting detailed information, including the top 100 users and six months' transaction history. The situation escalates as Binance executives remain detained, prompting concerns over untraceable funds and currency stability.