“What Governors Do By Converting Their Allocation To Dollars Is Worse Than Binance; Binance Was Never Our Problem But Time Will Tell”- Oseni Rufai Says As Naira Pegged At 1,600

“What Governors Do By Converting Their Allocation To Dollars Is Worse Than Binance; Binance Was Never Our Problem But Time Will Tell”- Oseni Rufai Says As Naira Pegged At 1,600

Written By Oshiobugie John

In a startling revelation, Oseni Rufai has shed light on the circumstances surrounding Binance’s decision to withdraw its services from Nigeria. The cryptocurrency exchange, facing mounting pressure from the Federal Government under President Tinubu, has opted to halt support for NGN deposits and withdrawals. READ THE FULL ARTICLE HERE

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Effective March 8 at 8:00 a.m. UTC, Binance will automatically convert naira balances to USDT. However, the support for NGN deposits will cease after 14:00 UTC today, with withdrawals no longer being supported after March 8 at 6:00 a.m. UTC.

The conversion rate for automatic conversions will be set at 1 USDT per 1,515.13 naira, as per the announcement made by Binance.

Oseni Rufai, addressing the situation via his X handle, expressed his views on the matter. He stated, “Now Binance has discontinued its Naira service, we are waiting for the Naira to become 700, ‘the fair value’ as quoted by the CBN governor. Binance was never our problem, but time will tell.”

Continuing his commentary, Rufai remarked, “What Governors do by converting their allocation to dollars is worse than Binance. What all the politicians did by buying dollars during party primaries last year to pay delegates was worse than Binance.”

Rufai’s insights shed light on the complexities surrounding the cryptocurrency landscape in Nigeria and the broader economic implications of recent developments. As Binance bids farewell to the Nigerian market, the repercussions of government actions continue to reverberate throughout the cryptocurrency community.

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Source: Bushradiogist