Why FG Bàn$ Binance, Octafx, And Others – Dollar Exchange Rate Hits ₦1,390

Why FG Bàn$ Binance, OctaFX, and Others – Dollar Exchange Rate Hits ₦1,390


In a significant move, the Nigerian government has enforced a ban on several online platforms, including Binance, citing concerns over forex market manipulation and illicit fund transfers.
According to sources within major telecommunication companies, the Nigerian Communications Commission (NCC) has issued directives to block access to these platforms, prompting swift action from the telcos.
Apart from Binance, other affected platforms include Forextime, OctaFX, Crypto, FXTM, Coinbase, Kraken, among others.
The decision comes amid growing concerns over the depreciation of the local currency, with the government taking measures to stabilize the forex market.
Earlier reports hinted at the government's deliberation on blocking these platforms as part of broader efforts to address the free fall of the naira.


https://www.youtube.com/watch?v=jirMtbxQ3Eo?si=0rgXMx1RqkDGh004

That's a good step