Nigerian Presidential Adviser Assails Binance, Calls for Measures Against the Crypto Exchange
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Bayo Onanuga, a special adviser to the Nigerian president, has leveled accusations against Binance, blaming it for exacerbating the local currency’s depreciation against major currencies. Onanuga called for immediate action against Binance, warning that its activities could potentially undermine the economy. Binance, however, has refuted these allegations, attributing the naira’s depreciation to “complex factors” that […]
Binance faces four tax evasion charges from Nigeria’s Federal Inland Revenue Service (FIRS). A court in Abuja has scheduled its verdict for October 11. Binance’s lawyer in Nigeria, Ayodele Omotilewa, argued on July 12 to have all charges dropped against Binance due to lack of sufficient grounds. They maintained the…
Nigerian regulator the Association of Bureaux de Change Operators of Nigeria (ABCON) has asked the government to ban Binance because it puts pressure on the naira. Citizens of developing countries like Nigeria resort to cryptocurrency due to the chaos in the country’s central banking system. However, they now want to…
Nigeria government has reaffirmed its openness to crypto businesses, despite its ongoing legal battle with Binance and the controversial detention of the exchange’s executive, Tigran Gambaryan. The statement from Nigeria’s Information Minister, Mohammed Idris, highlights the country’s commitment to regulating rather than eliminating crypto operations. In a recent interview, Idris…