Bayo Onanuga, the Special Adviser on Information & Strategy to President Bola Tinubu, has charged 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.
Onanuga disclosed this on Wednesday through his official X
account.
According to him, cryptocurrency exchange platforms are
contributing to the continued Naira fluctuations in the forex market.
He cited Binance, which is restricted in the United Kingdom,
Singapore, Ontario and Canada.
Onanuga stressed that Binance is hijacking the role of the
CBN, noting that Binance and other cryptocurrency platforms, such as Kucoin and
Bybit, should be banned from operating in Nigeria’s cyberspace.
He added 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.
“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
unabated”, he said.
Recall that the CBN lifted the ban on cryptocurrency
transactions in December last year.
For months now, the Naira has continued to fluctuate against
the US dollar in the forex market despite several policy interventions by the
CBN.
The EFCC recently commenced raids on Bureau De Change
operators in Abuja, Lagos and Kano.
Advertise on NigerianEye.com to reach thousands of our daily users
This comment has been removed by a blog administrator.
ReplyDelete