NewStats: 3,262,805 , 8,178,210 topics. Date: Tuesday, 03 June 2025 at 04:10 PM 3e5y66

Binance, the World’s biggest cryptocurrency trading platform, has confirmed collaborating with President Bola Tinubu’s istration to block Nigerians from dollar-naira trade on its platform.

Binance disclosed this in an announcement on its “commitment to P2P s in Nigeria” on Tuesday, warning that “s behaving in a manipulative way will be removed from the platform.”“As industry leaders,” Binance said, “We are working hand in hand with local authorities, lawmakers, and regulators to ensure we act on non-compliance.’’

The crypto exchange platform further said it is “setting an upper limit for ads, filtering and removing bad ads, requiring and raising deposits for merchants posting ads as well as processes for actioning against any market manipulators.”

On Tuesday, Binance disabled sell option for its Nigerian s, blocking them from selling fiat currency, USDT, on the platform. It also capped the buy option to $1802 for Nigerian s.

It also disabled purchase of cryptocurrencies via P2P for its Nigerian s, leaving those who might want to sell their crypto assets such as Bitcoin, BNB, Ethereum via P2P stuck.

https://dailypostngr.com/2024/02/update-binance-confirms-working-with-tinubu-govt-to-block-dollar-naira-exchange/

We need more measures to improve the economy

There should be urgent review of the current economic and monetary policies. Treat the root cause and the symptom will disappear.

The fall in the value of naira, hunger and chaos are symptoms.....Like symptoms of malaria, symptoms of diabetes, symptoms of pneumonia, etc. When you treat the root cause, symptoms will go away.

Some of government's approach to solutions lately is like someone having headache and experiencing weakness due to Diabetes but the person is busy taking only paracetamol and drinking lucozade for energy. The sickness will remain until the cause is treated/managed properly.

alanih:
News source

I just put it

If clueless is an animal...tinupoo is surely its name.


Some Nigerian Men are scum
🙄

Source of news

Ah! Please no go area o. Anyways, when one road block, another one open. We move.




Tinubu, a bad man with good intentions.

I'm sure the people writing this article don't have a binance ,they just come online and report fabricated stories to scare people.
I bought usdt now on binance just to test if there's any ban on purchase and I sold some usdt on Monday without any issues.
I repeat what I wrote earlier today, binance is one of the major manipulators and speculators of our Currency,the Naira.
The rate at which they manipulate prices on that exchange is criminal,infact they are worse than the BDC.
Like someone wrote on a comment I made, yesterday it was 1700 to 1$ usdt,today it's near 1800 and I'm sure tomorrow it will be 1900.
I ask again,which economic activities are they doing that allows the exchange manipulate the Naira so blatantly,it's economic Terrorism.
Let binance show Nigerians the economic indices,the Algorithm,and the individuals in the Binance Economic Team that determine the daily value of the Naira to any crypto.
It's very very absurd for any entity to have the right to just wake up every day and assign a value to the Nigerian currency without having any methodology known to Government.
I believe that's what is called speculation.
Binance is very useful to me but I will never ever encourage the daily speculation going on in that exchange.
Binance must subject itself to some form of government regulation if it wants to continue operations In Nigeria,infact like I said earlier it must fix it's crypto value to the daily exchange rate release by the CBN,not the crazy bureau de change operators.
This is time to take patriotism over profit.
God bless my country Nigeria........

Thissystem:
We need more measures to improve the economy

There should be urgent review of the current economic and monetary policies.

There's just too many sides to this
Nigeria imports literally everything and exports nothing.

People advising this man are very shallow in reasoning

Lol!

Tinubu and his bunch of touts think they can arrest the falling Naira through the barrel of the gun.

Bunch of fools!

That's a big lie Nigeria exports a lot of things too but in some quantities.

burp18:


There's just too many sides to this
Nigeria imports literally everything and exports nothing.

ozowarac:
That's a big lie Nigeria exports a lot of things too but in some quantities.

The ratio of what Nigeria exports is like 5% to 95% of what it imports .
Asides crude. Nigeria doesn't export anything and the little it gets from crude sales is either used ti service debt, mismanaged or looted.

Penguin2:
Lol!

Tinubu and his bunch of touts think they can arrest the falling Naira through the barrel of the gun.

Bunch of fools!

The way PEPT and Supreme Court manoeuvre the case is Tinubu's favor, I wish we have people in government who can perform that kind of miracles in this falling economy.

burp18:


There's just too many sides to this
Nigeria imports literally everything and exports nothing.

Government really needs to tackle the root cause of the problem not treating the symptoms alone. It’s like one having headache and experiencing weakness due to Diabetes but the person is busy taking only paracetamol and drinking lucozade for energy. The sickness will remain until the cause is treated/managed properly.

As strong n stable as the Rand is against the dollar you will bever see anybody in SA with dollar. Their bank do not have or allow dorm acct in any currency.

I wonder what intelligence Tinubu/Cardoso need to close all foreign currency domicile acct n make them illegal with the dollar situation in Nigeria. Nigerians do not need dorm to pay fees abroad, all you need is have your bank do the transaction on your behalf once you pay the equivalent that is how I transfered fund from SA to USA n that is how I was paid when receiving money from the USA in SA.

I wonder why dollar should be made an alternative legal tender in Nigeria with the foolish CBN governor acting like a novice.

Faiththatworks:
I'm sure the people writing this article don't have a binance ,they just come online and report fabricated stories to scare people.

You think so? A basic google search shows the news is everywhere online even on Binance platform by s.

The fact remains though that government needs a holistic approach to problem solving, not only Binance for this matter.

Faiththatworks:
I'm sure the people writing this article don't have a binance ,they just come online and report fabricated stories to scare people.
I bought usdt now on binance just to test if there's any ban on purchase and I sold some usdt on Monday without any issues.
I repeat what I wrote earlier today, binance is one of the major manipulators and speculators of our Currency,the Naira.
The rate at which they manipulate prices on that exchange is criminal,infact they are worse than the BDC.
Like someone wrote on a comment I made, yesterday it was 1700 to 1$ usdt,today it's near 1800 and I'm sure tomorrow it will be 1900.
I ask again,which economic activities are they doing that allows the exchange manipulate the Naira so blatantly,it's economic Terrorism.
Let binance show Nigerians the economic indices,the Algorithm,and the individuals in the Binance Economic Team that determine the daily value of the Naira to any crypto.
It's very very absurd for any entity to have the right to just wake up every day and assign a value to the Nigerian currency without having any methodology known to Government.
I believe that's what is called speculation.
Binance is very useful to me but I will never ever encourage the daily speculation going on in that exchange.
Binance must subject itself to some form of government regulation if it wants to continue operations In Nigeria,infact like I said earlier it must fix it's crypto value to the daily exchange rate release by the CBN,not the crazy bureau de change operators.
This is time to take patriotism over profit.
God bless my country Nigeria........

True.

Binance are no different from BDC, speculators and money launderers. All Crypto companies including binance must be regulated. They must be regulated as money service companies which must be ed with proper regulations!

Believe this fake news at your own peril

I totally this ban

This same people trading crypto are the same unfortunate people blaming the government for incompetency

Fools

Front0lane:
As strong n stable as the Rand is against the dollar you will bever see anybody in SA with dollar. Their bank do not have or allow dorm acct in any currency.

I wonder what intelligence Tinubu/Cardoso need to close all foreign currency domicile acct n make them illegal with the dollar situation in Nigeria. Nigerians do not need dorm to pay fees abroad, all you need is have your bank do the transaction on your behalf once you pay the equivalent that is how I transfered fund from SA to USA n that is how I was paid when receiving money from the USA in SA.

I wonder why dollar should be made an alternative legal tender in Nigeria with the foolish CBN governor acting like a novice.

Both Tinubu and Cardoso use the dom for their illicit deals so they cannot ban it. Thier hands are not clean as well.

a4cube:
Both Tinubu and Cardoso use the dom for their illicit deals so they cannot ban it. Thier hands are not clean as well.

Exactly 💯, all politicians from heads to toes has domiciliary s where they usually kept their ill gotten wealth. Asides that, billions of dollar notes are in their various homes vaults. It is not easy to steal large some of money in Naira, so dollar is their save heaven.

Politicians are number one enemy of this country .

Faiththatworks:
I'm sure the people writing this article don't have a binance ,they just come online and report fabricated stories to scare people.
I bought usdt now on binance just to test if there's any ban on purchase and I sold some usdt on Monday without any issues.
I repeat what I wrote earlier today, binance is one of the major manipulators and speculators of our Currency,the Naira.
The rate at which they manipulate prices on that exchange is criminal,infact they are worse than the BDC.
Like someone wrote on a comment I made, yesterday it was 1700 to 1$ usdt,today it's near 1800 and I'm sure tomorrow it will be 1900.
I ask again,which economic activities are they doing that allows the exchange manipulate the Naira so blatantly,it's economic Terrorism.
Let binance show Nigerians the economic indices,the Algorithm,and the individuals in the Binance Economic Team that determine the daily value of the Naira to any crypto.
It's very very absurd for any entity to have the right to just wake up every day and assign a value to the Nigerian currency without having any methodology known to Government.
I believe that's what is called speculation.
Binance is very useful to me but I will never ever encourage the daily speculation going on in that exchange.
Binance must subject itself to some form of government regulation if it wants to continue operations In Nigeria,infact like I said earlier it must fix it's crypto value to the daily exchange rate release by the CBN,not the crazy bureau de change operators.
This is time to take patriotism over profit.
God bless my country Nigeria........

The problem is the weakened state of the Naira. Hardly any country or foreigner wants or needs Naira except Nigerians until this present government. Now even Nigerians don't want Naira again.

Speculators only succeed against a weak currency.

Ok

Thissystem:


https://dailypostngr.com/2024/02/update-binance-confirms-working-with-tinubu-govt-to-block-dollar-naira-exchange/

Killing the youth and future to sustain the old and wasted. Nigeria is not producing, most manufacturing have left or leaving, how we dollar not rise.

Good.

Dem go use dis avenue block many people acct carry dem crypto go mentinaininpus

Dollar don dey knack naira again on other platforms

Lol people and fake news sef....



All the News don dey look like blog post sef....



People are still selling and buying even yesterday night wey the app no open for some hour na ap people dey cry up nd to even people wey dey tell us they don't av any money why u come dey cry as Binance no gri open....

Noted.

Faiththatworks:
I'm sure the people writing this article don't have a binance ,they just come online and report fabricated stories to scare people.
I bought usdt now on binance just to test if there's any ban on purchase and I sold some usdt on Monday without any issues.
I repeat what I wrote earlier today, binance is one of the major manipulators and speculators of our Currency,the Naira.
The rate at which they manipulate prices on that exchange is criminal,infact they are worse than the BDC.
Like someone wrote on a comment I made, yesterday it was 1700 to 1$ usdt,today it's near 1800 and I'm sure tomorrow it will be 1900.
I ask again,which economic activities are they doing that allows the exchange manipulate the Naira so blatantly,it's economic Terrorism.
Let binance show Nigerians the economic indices,the Algorithm,and the individuals in the Binance Economic Team that determine the daily value of the Naira to any crypto.
It's very very absurd for any entity to have the right to just wake up every day and assign a value to the Nigerian currency without having any methodology known to Government.
I believe that's what is called speculation.
Binance is very useful to me but I will never ever encourage the daily speculation going on in that exchange.
Binance must subject itself to some form of government regulation if it wants to continue operations In Nigeria,infact like I said earlier it must fix it's crypto value to the daily exchange rate release by the CBN,not the crazy bureau de change operators.
This is time to take patriotism over profit.
God bless my country Nigeria........

BDCs should be banned from operations and only CBN rates should be used in the morning. Cos what we see now is that cbn is doing catch up with bDC rates. Terrible economic terrorism