Binance poses a threat to Nigeria’s economy, warns Bayo Onanuga, the presidential spokesman, urging the need for intervention.

Bayo Onanuga, the presidential spokesman, has expressed concern that the cryptocurrency trading platform Binance could negatively impact Nigeria’s economy if left unchecked.

During an appearance on Channels Television’s Politics Today program on February 28, Onanuga accused Binance of manipulating foreign exchange rates without proper oversight.

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. 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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