The news of the Nigerian government holding two Binance Representatives captive over the inability of Binance to meet their demand has gone around the world like wildfire. Being one of the top African countries in terms of Cryptocurrency adoption, It was indeed a big blow to Binance. This is one of the reasons why Binance is currently looking for ways to sort out things.

Most Nigerians are concerned by the fact that they are now unable to use their favorite exchange. For me, this is something that should be less of a worry because we can access whatever CEX services we desire with other CEXes.

As a Binance Square Creator, long before the current saga, we have been denied the right to participate in some campaigns, especially those that involve giving out Binance Merch and USDT rewards. We were also unable to onboard Nigerians to the Square Creator program because Nigeria has already been placed under Countries with regulatory frameworks by then.

The less discussed part of this case is the implication the current issue will have on Nigerians getting employed by other CEXes, projects, etc.

It is normal for countries to make pronunciations against Cryptocurrency and centralized exchanges, but holding CEX representatives captive shows a stern stand. Exchanges and projects won't want to mess with such a government.

If there aren't any good resolutions to this issue, Nigerians may face difficulty securing remote jobs from Blockchain-based projects, especially centralized exchanges. Just as the US is excluded from most airdrop programs, it may get to this point where Nigerians won't be allowed to participate in some airdrops.

The Blockchain and the opportunities it presents have helped many Nigerians and Africans. The government needs to understand this and sort for a neutral ground for all. There are fewer job opportunities in the country, if citizens are further made ineligible for remote jobs, especially crypto jobs, it would further worsen the employment and job market in the country.

The operation of centralized exchange does not affect the economy of any country. Yes, there might be avenues for money laundering. This is where regulation comes in. As I have always said, the crypto world can't thrive well without regulation. The government only needs a favorable regulatory framework.