Bayo Onanuga, adviser to Nigeria’s president, accused Nigerians of being unpatriotic when trading on the Binance platform.
An adviser to Nigeria’s president has called for a ban on Binance, KuCoin and other trading platforms in the country.
Bayo Onanuga — President Bola Tinubu’s adviser on information and strategy — took to the X social media platform to allege that the platforms manipulated the country’s fiat currency, the Nigerian naira, contributing to the ongoing decline of the currency in the forex market. This is coming amid speculations that the government is already considering a ban.
Onanuga mentioned that Binance is under regulatory scrutiny in several countries and should not be granted the authority to determine the value of the naira on its crypto exchange platform. However, on Feb. 22, Binance distanced itself from the forex crisis in Nigeria, saying its platform is “market-driven and not intended to be a proxy for currency pricing in Nigeria.”
