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Friday, April 19, 2024

Binance Will Destroy Nigeria’s Economy If Not Stopped – Presidency

The President Bola Ahmed Tinubu’s led administration has revealed that popular cryptocurrency platform, known as Binance, will ruine Nigeria’s economy, if not stopped.

Disclosing this on Wednesday, the Presidential spokesman, Bayo Onanuga, said that the trading website will cause big setback to the nation’s economy, adding that some perpetrators use the space to decide the exchange rate.

Onanuga led this out today, during an interview on Channels TV.

He said: “If we don’t clamp down on Binance, Binance will destroy the economy of this country. They just fix the rate.

“We have saboteurs. Look at what Binance is doing to our economy.

READ MORE: I’m Not Responsible For Nigeria’s Economic Challenge — CBN Gov Tells Nigerians

“That is why the government moved against Binance.

“Some people sit down using the cyberspace to dictate even our exchange rate, hijacking the role of the CBN.

“They just sit down and fix anything they like. It’s a sabotage and we are trying to prevent that from happening henceforth.”

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