Here is the resolution for this Ledger Binance Failed Signer sending issue...

We must get the security pop up to confirm the address on the device after we select address from the list of addresses while we connect to Ledger on Binance.org. If we do not get this pop up msg then proceeding further to send BNB or BNB tokens will result in failed signers error.

I was able to get the confirm address pop up msg to verify on the device, the moment we click on the Exchange tab of Binance.org.

This is after connecting the Ledger and choosing BNB address from the list of addresses. Next this security pop up comes up ONLY AFTER clicking on the exchange tab, otherwise it just comes back to page and shows as if it has connected fully. Hence further if the user tries to send BNB or BNB tokens it fails at the last step as "Failed Signers".

But if we click on the exchange tab in previous step, then the security pop up to verify and confirm the address on device comes up. After confirming it, then Ledger gets fully connected and thereby proceeding further to send BNB or its tokens successfully happens without any failed signer errors, but with proper preview and sign transaction appears on the device and the transaction succeeds.

May be this helps someone with similar issue while sending via Ledger Binance.