I would have been disappointed if they had sentenced him to Prison without fair trial. Having him go through the judiciary process is still within the rules. His case isn't looking good and there's a high possibility of him spending time In prison except Binance plead guilty to the allegations and pay due fine.
Let us see what the court will come up with as judgement, but I see them all on one side. I have the government and the regulators to blame and they have shown hostility towards foreign centralized exchanges. I see the government as people that are not wise at all. If they are wise, they should have seen exchanges as not regulated enough and which calls for regulation instead of acting like a boss.
I believe other exchanges agreed with the FG's requests, therefore NGN P2P is still running on those platforms; however, the FG may have been sceptical of Binance 2p2 due to their high trading volume. To be honest, Binance p2p always has the highest rates when compared to other exchanges, hence the Naira manipulation could be accurate. There were those Marchants who engaged in price manipulation, and these sorts are always at the top, and in order to meet demand, others raise rates as well. This is why the EFCC is particularly interested in the TOP 100 traders, as they were the main players in the price manipulation.
You do not understand what has just happened with the naira deflation. There is naira deflation but there is food and local products inflation. A stable economy is better than what is happening. Know that some people are gaining more while some people are losing more right now in their business, instead for it to balance, it is no more balanced.
Price of things will not crash immediately but gradually - people are still selling goods they bought at 1800-1900 and you don't expect them to sell them at the current rate. They will have to restock goods at the current rate to reduce prices of goods. It's a Basic Economics
Price of Electronics have already crashed by more than 50% I confirmed this yesterday.