Nigeria may ban Binance and Coinbase
The adviser to the President of Nigeria called for the ban of Binance, KuCoin, Coinbase and several other trading platforms in the country
Bayo Onanuga, advisor to Nigerian President Bola Tinbubu, appealed to the Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria (CBN) with a request to ban the activities of crypto exchanges in the country.
In the message, Onanuga accused Nigerians trading on Binance of not being patriots. He stated that cryptocurrency platforms manipulate the national currency of the state — the Nigerian naira. According to him, crypto exchanges contribute to the fall in the exchange rate of the naira in the foreign exchange market.
"EFCC and CBN must take action against these platforms trying to manipulate our national currency by lowering it to zero. Cryptocurrencies should be banned in our country, otherwise this bleeding of our currency will continue without stopping," he wrote.
Against the background of the politician's statements, the Nigerian authorities ordered the country's telecommunications companies to block access to the sites of Binance, OctaFX and Coinbase. Users living in Nigeria started writing about this the day before.
At the same time, some note that the applications of trading platforms still work without problems and open without a VPN.
It is noteworthy that in December 2023, CBN changed its mind about digital assets. The regulator lifted the ban on cryptocurrency transactions, which was introduced in 2021.
Binance representatives sent emails to Nigerian users. They noted that they are aware of the current situation and are actively cooperating with the regulatory authorities of Nigeria.
Source: https://ru.beincrypto.com/nigeriya-zapretit-binance/