Binance will destroy Nigeria’s economy if not stopped – Presidential Aide, Bayo Onanuga spills

According to President Bola Tinubu’s Special Adviser on Information & Strategy, Bayo Onanuga, the cryptocurrency trading platform Binance could potentially harm Nigeria’s economy if not regulated.

During an appearance on Channels Television’s Politics Today show on Wednesday, February 28, Onanuga claimed that Binance is unfairly manipulating foreign exchange rates.

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.”