By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: BREAKING: FG Fines Binance $10bn over Naira Fall
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | BREAKING: FG Fines Binance $10bn over Naira Fall

Business

BREAKING: FG Fines Binance $10bn over Naira Fall

Tapre Timine
Tapre Timine
Published: June 14, 2025
Last updated: June 14, 2025
1 Min Read
Share
BREAKING: FG Fines Binance $10bn over Naira Fall | Daily Report Nigeria
SHARE

The cryptocurrency trading platform Binance has come under fire, with the Federal Government imposing a hefty $10 billion fine.

The allegations revolve around Binance’s purported role in exacerbating Nigeria’s forex crisis.

Bayo Onanuga, the special adviser to President Bola Tinubu on Information and Strategy, revealed the fine during an interview with the BBC on Friday.

According to Onanuga, Binance engaged in “illegal transactions” within Nigeria, reaping substantial profits while the nation grappled with significant losses.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

READ ALSO: Why Binance Must be Stopped – Presidency

Also, he stated, Binance lacks registration in Nigeria and maintains no physical presence within the country.

Regardless, individuals utilized the platform to manipulate dollar-naira exchange rates, resulting in adverse effects on the local currency’s value.

Onanuga said:

“The platform fixes the exchange rate in Nigeria, which is illegal. The Central Bank of Nigeria is the only authority that can fix the exchange rate for Nigeria.

“Binance harbours a lot of people who fix exchange rates which impacted the country badly at a time when the government is trying to stabilize the economy.”

 

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:BinanceFGTop Stories
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

BREAKING: Lyon Relegated from Ligue 1 Over €500 Million Debt | Daily Report Nigeria
BREAKING: Lyon Relegated from Ligue 1 Over €500 Million Debt
Sports
Adamawa Government Strips Atiku of Waziri Adamawa Title over ‘Non-Indigeneship’ | Daily Report Nigeria
Adamawa Government Strips Atiku of Waziri Adamawa Title over ‘Non-Indigeneship’
Politics
JUST IN : Super Eagles’ Maduka Okoye Named Enugu Ambassador | Daily Report Nigeria
JUST IN : Super Eagles’ Maduka Okoye Named Enugu Ambassador
Sports
We’ll No Longer Tolerate killing, Assault On Officers – IGP
IGP Warns Against Arming Citizens, Says It Will Worsen Insecurity
News
MultiChoice Boss, Top Executives Face Arraignment for Defying FCCPC Summons | Daily Report Nigeria
MultiChoice Boss, Top Executives Face Arraignment for Defying FCCPC Summons
News

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

NELFUND Lists Requirements to Apply For Students Loan | Daily Report Nigeria
News

NELFUND Lists Requirements to Apply For Students Loan

June 13, 2025
Nigerian Doctor, Femi Olaleye Bags Life Imprisonment For Raping Wife's Niece
Metro

Nigerian Doctor, Femi Olaleye Bags Life Imprisonment For Raping Wife’s Niece

May 24, 2025
BREAKING: CBN Raises Interest Rate to 18% | Daily Report Nigeria
News

BREAKING: CBN Raises Interest Rate to 18%

June 14, 2025
FG Pays $600m Monthly to Import Fuel – Finance Minister, Wale Edun
Business

No Going Back On FOREX, Subsidy Reforms – Finance Minister

June 3, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?