Binance will destroy Nigeria’s economy if not stopped

Presidential spokesman, Bayo Onanuga has said that cryptocurrency trading website Binance will destroy Nigeria’s economy if not checked. 

Appearing on Channels Television’s Politics Today programme on Wednesday, February 28, Onanuga alleged that Binance is arbitrarily fixing foreign exchange rate.

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.”