The Presidential spokesman, Bayo Onanuga has said if Binance, a cryptocurrency trading website is not stopped, it will destroy the Nigerian economy by arbitrarily fixing foreign exchange rate.
In a chat on Channels Television, Bayo Onanuga stated thus:
“If we don’t clamp down on Binance, it 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”
The presidential aide further urged Nigerians to stop patronising the parallel market for FX rates, saying the website of the apex bank is the only legal platform.