Nigeria is one of the African countries that have already started operating its own CBDC because they don't want cryptocurrency but for some reasons yet unclear they want to partner with Binance Exchange and as earlier mentioned, have not lifted the ban on Bank transactions on cryptocurrency so how Adoptable is that?
That is double standard and you are right if Nigeria kicking against crypto and Bitcoin, running after the youths and arresting them on same crypto that they now want to join minds with one of the largest cryptocurrency exchange. That is rejecting something and going back to accept it at same time. This collaboration is going to bring the Nigerian government to review the ban on crypto trading that are linked with exchange and even mostly binance exchange.
Government are considering their own benefit and not the people's choice, they kick against bitcoin because it is fully decentralized while they think having collaboration with CZ could bring something beneficial to them as government since a deal is going to be made as MoU in partnership that both could derive a good benefits, but what the people want isn not the step they are taking, total freedom from a centralized entity in handling finances is what we want, which is obviously a change.
It does seem like a match made in heaven, Nigeria gets to test the waters with this crypto idea and shady Binance get a slight legitimacy boost. Judging from past things I've seen with Binance, they're probably quite willing to engage in the sort of "deal making" that is useful for politicians who accept gifts but probably less favorable than it should be to the average Nigerian who might want to use this economic zone.
That's why i don't trust any deal with a centralized body, their aim is to direct and center their motives for making profits to their suit as priority first before considering the people, government here will have a means of negotiation with Binance and likely advise to introduce a new token or coin aside bitcoin just as inbthe case of Central African Republic which has the introduction of Sango token as part of its project.
No doubt Binance is aiming to capture new markets since they have been scaled away from stock market listings in places like New York and London because it requires strong financial transparency - the fact they don't want has to make you wonder what's really going on, but then they do gouge fees like crazy.
The government may think they are helping but rather is to thier favour as exchange.
