Given the contiued fall on Naira compared with other currencies, the Special Adviser on Information & Strategy to President Bola Tinubu, Bayo Onanuga has proffered what he described a part of the solutions to Naira fall. Onanuga on Wednesday urged the Central Bank of Nigeria, CBN, and the Economic and Financial Crimes Commission, EFCC, to clampdown on Binance and other cryptocurrency platforms undermining Naira at the foreign exchange market adding that
cryptocurrency exchange platforms are contributing to the continued Naira fluctuations in the forex market.

According to him, Binance, which is restricted in the United Kingdom, Singapore, Ontario and Canada.
Onanuga revealed that Binance is hijacking the role of the CBN, pointing out that Binance and other cryptocurrency platforms, such as Kucoin and Bybit, should be banned from operating in Nigeria’s cyberspace.
He hinted that the FX platform, Aboki, should be re-banned to stop the bleeding of the Naira.
Binance, facing regulatory showdown in many countries and causing disruptions in the currency market, should not be allowed to dictate the value of the Naira, not on its crypto exchange platform. Other crypto platforms, such as Kucoin and Bybit, should be banned from operating in cyberspace. The FX platform, Aboki, should be re-banned,he said
“The EFCC and the CBN should move against these platforms trying to manipulate our national currency to Ground Zero. Crypto should be banned in our country, or else this bleeding of our currency will continue.

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