Bayo Onanuga, a spokesperson for President Bola Tinubu, told BBC's pidgin on Friday "The exchange is setting an exchange rate for the Nigerian naira when only the central bank has that authority, Onanuga said.
Onanuga subsequently told Nigerian news service Peoples Gazette his comments had been misrepresented.
“I said our government may impose heavy fines on Binance for what happened,” Onanuga told the Gazette. “I never said Binance had been informed about the fines or that it would definitely be $10 billion. I only said the amount may be imposed, which is because nothing has been finalized yet.”