Business

FG Hits Binance With $10bn Fine

The Nigerian government has imposed a $10 billion fine on Binance as part of its increasing crackdown on the cryptocurrency exchange platform. This action follows efforts to stabilize the value of the Naira, Nigeria’s local currency. Bayo Onanuga, Special Adviser on Information and Strategy to President Bola Tinubu, revealed this development during an interview with the BBC on Friday.

Onanuga alleged that Binance engaged in illegal transactions in Nigeria, profiting significantly while the nation suffered losses. He stated that Binance is not registered in Nigeria and lacks a physical presence in the country, asserting that users exploited the platform to manipulate dollar-naira exchange rates.

Onanuga suggested that Binance is cooperating with the Nigerian government by providing information and has suspended naira-related transactions on its platform.

…………

Note : To submit Press Releases, Statements, and Advert Inquiries for publication on Waffi blog (website) or Television 📺, please use the following contact details: You can send an email to info@waffitv.com or reach us via Whatsapp at 07068286500

Related posts

Naira Appreciates To N1,495/$ In Parallel Market

Waffi Tv

FG Lifts Suspension On Arik Air

admin

Emirates Airlines Return To Nigeria October 1

Waffi Tv

Leave a Comment