We Await More Proof Binance Is Manipulating The Naira
We Await More Proof Binance Is Manipulating The Naira
Arise Business Correspondent Rotus Oddiri spoke about Crypto exchange Binance facing possibly billions in Fines from Nigeria on Currency manipulation charges
Subscribe to our Channel for high profile interviews. Follow us on Twitter at https://twitter.com/ARISEtv |
and Instagram: https://www.instagram.com/arisenewsofficial |
and Facebook:…
source
Reviews
0 %
As important as AI is, it should not be left unregulated, it’s sheer illiteracy on Rufai’s part to expect Nigeria to close its eyes to an unregulated company transacting as much as $26b (about 5% of the country’s GDP). Taxes accrue to countries on transactions. Think of a 0.1% tax on $26b, that is $26m, think of what that can do for schools, hospitals and roads in Nigeria. Bigger economies including the US and the U.K (it’s FCA has blocked Binance) are alert to the ills of shadowy operators like Binance.
AI can never work in Nija. For evidence see the recent INEC presidential elections. You cannot destroy AI by setting fire to a building and say all evidence were destroyed in the fire. Our leaders know which side their bread is buttered.
The Nigerian government does not want us to earn money online and offline if we study, they will not give us jobs, they will not help us to do business. but they also prevented us from earning money online, so what do they want us to do, they want us to be thieves or they want us to be bandits. they should think before the people of Nigeria change their behavior to bad people
We are not talking about how much came in from Binance Or How Nigerians have benefited from Binanace, That's typical Nigerian (brain) 99 good plus 1bad equals to 100bad
To get things working the government have to regulate the fuel price. Fuel cannot be sold @100 and dollar will be sold @1568 (current rate) it's not possible. Since subsidy was removed and fuel went up to x3 the price in buhari regime, what other sector has benefited from the subsidy removal to balance the economy. Let dem go and rest. Binance or no Binance if fuel price goes up to 1k per liter 1dollar will automatically worth more than 2k juju no dey
https://youtu.be/JMvZ0I_pvT0
A few years ago they blamed Abokifx. They clamped down on them. Yet naira continue to take a dive to abyss😂😂
Isn't it telling that the Nigerian Government is so quick to find, arrest and pin a figure on entities like Binance, but when it comes to subsidy scammers who have milked this country of trillions of naira (billions in dollars) they can't seem to find their noses, when it comes to kidnappers who by the way still use phones to communicate with kidnap victim families they are all of a sudden lacking information. Yet, just like that they have an exact figure that has been moved through binance and are quick to shut down their websites etc…….If anyone is still in the delusion that the governement cares about you, the common man and how their actions and policies affect you then i have bridge i want to sell to you
Rufai… rufai..😂
This is all the nigerian banks coming together to force people put their money into banks so they can loan it out and make more profit coz as it happenned 2020 the same banks and the cbn banned crypto purchased using naira from their platform and even so the naira value didnt improve upto date.but for now they are just looking for scape goat which happend to be binance because they noticed nigerians are no longer saving money in banks but buying cryptocurrencies for a better future.but only time will tell if this move will be fruitful
This government should really be ashamed of themselves
Just get the foreign companies home @9ja
Hungry Nation needs alot other things b4 AI
I like the AI part but my advise is that there should be some worth of independent committee set up to regulate its use and practice.
As per the BINANCE issue I think the Nigerian government and BINANCE can cooperate on the issue not by detaining their staff's.
currency manipulation is a very strong term! Bayo Onanuga should be carefuĺ with his words so as not to be interpreted out of context
I like the AI part but my advise is that there should be some worth of independent committee set up to regulate its use and practice.
As per the BINANCE issue I think the Nigerian government and BINANCE can cooperate on the issue not by detaining their staff's.
currency manipulation is a very strong term! Bayo Onanuga should be carefuĺ with his words so as not to be interpreted out of context
Because the cbn governor is brainless and the dss too are clueless that’s why they detained Binance executives.shameless bastards .na dem remove fuel subsidy and floated naira … master planners with no plan .
Routs,I am surprised that ur speaking d lang of a common Nigerian now. U now understand that things are not as smooth as you thought when u graduated from that ur finance sch. U now understand that ur baba Tinubu is corrupt & his policies are not so good as u thought. U threw so many jabs at the government of d day today.
Nigeria that cannot successfully utilize technology for elections.
How can binance be manipulating the naira… Wetin concern foul and tooth brush??? Nothing you won't hear.
You are talking about dollar, nobody is talking about our own naira citizens buy to use. Is it right? We go to bank we wouldn’t get money but from roadside dealers at cost, N500 to withdraw 10,000 for instance
Someone pls pronounce it right Binance; Binary-Finance…
What people fail to understand about crypto platforms p2p is that it’s easy to launder money out of the country without regulation than with the traditional banks. Where some banks place a maximum of $10k outbound transfer, p2p is limitless. I feel the government should find a way to regulate the p2p market instead of an absolute ban.
We are advancing in Artificial Corruption (AC) They should not worry we will see them at I from C.
Lol… It seems you guys don't really know the functions of data analysist 😂. AI isn't just going to change things overnight, because a person have to feed data into the system, and that data can be false or manipulated.
They just confused 😂 economic team without any direction. Naira will fall above N2000 within the next few months. Baba just need free money from binance sanction
26 billion dollars is close to what we have in our foreign reserves. If few people are looting that kind of amount through Binance alone, that's ENOUGH to destroy our economy. That amount is EXTREMELY huge. It can build 4 refineries, it can buy several aeroplanes, it can solve our Power generation problems. It's more than Dangote's worth, it can build 6 big industries. When that HUGE amount is looted through Binance into another country's economy, that crashes our Naira by a LARGE MARGIN, because the money wasn't invested on Nigerians. Now we are being forced to pay for the looting of Politicians through Naira devaluation. So, BINANCE, which is banned in US, UK, China is a great problem and one of the causes of our weak currency and inflation.
They are banning Binance because politicians are using it for money laundering. The 26 billion stolen from our economy last year alone is enough to crash dollar by a large amount if it's put into our foreign reserves. No sane country allows a money laundering venture to stay. Binance is banned in Uk, Us etc…
This is common sense. Binance is banned in most advanced nations because its used for money laundering. If 26 billion dollars is stolen from our economy through Binance, it goes into another economy and this crashes the value of our Naira. The poor man on the street is paying for the billions the rich corrupt politicians stole through Binance. So, Binance must go away! Let's stop the loot.
Whether it is Obasanjo, Buhari, or Tinubu, No Nigerian Government wants the citizen to prosper. Let them make an arrest and let's take it up from there. The CBN governor just displayed his level of ignorance and ill-informatiin
"By-nance" pleaseee not "bee-nance" mr rotus😌
You can't buy any form of cryptocurrency in Egypt and any other middle east country. It destroyed economy of any country accepting it and allowed it to control their economy.
Stop it now!
Just be honest enough to tell the public your source or resource when you begin to employ Ai in your news, so that the public can choose whether to consider such or not.
So no be Aboki FX again ??
dis ratus sabi yan okpata everytime!
Did you know that UBA bank in New York some years back was fined $15 million for not reporting foreign transactions?
The so called journalists on Arise Media are morons. They will rather support Binance than their own country.
Does anyone think a Nigerian can start a business in the USA and that business will be used to siphon $24 BILLION out of the country?
Over $24 BILION was fraudulently taken out of the country using Binance. That is a problem
Finally, Nigeria has a president that is not afraid to take difficult decisions.
What you should insist primarily to bring into civil service and nigeria public as a whole are effective surveillance cameras operation and steady energy supply not just rush for AI. Do the fundamentals first. How prepared is Nigeria for AI?
What some of you People are yet understand is that the Dollars that came in through the p2p on Binance Platform are not identifiable by Nigerians Banks nor neither traceable within the CBN System. In other words, These illicit Transactions are Opaque to the CBN.
In all Honesty the Nigerian Commercial Banks duly connived with Criminals to sabotage the Economy
What is "Egyptian Pounds"?
Can someone tell this guy the simple fact that Egypt is an African country, and not "Middle East"?
Thank you Rotus for Educating the clueless government about p2p on Binance. They keep chasing shadow instead of doing the right thing to salvage Naira and the economy.
Rotus is looks like you would make a very promising securities analyst, I’m wondering why you’re not using your gifts and business knowledge to go into the investing world – more knowledgeable than a lot of Wall Street analysts I’ve spoken to earning a lottt of money. Although one correction – companies certainly don’t need to have +very earnings to pay dividends they can pay them at their own discretion even if they have -ve retained earnings talk less of current profit
Foolish old in power so what do you expect
No, Rufai, regardless, p2p and exchanges still require KYC verification for account holders. But binance is certainly not the cause of naira devaluation..
On Binance issue, i agree with Rotus…p2p is mostly free from manipulation. Its willing buyer and willing seller..period