Binance faces increasing regulatory scrutiny as a Nigerian trade union calls for the Federal Government of Nigeria to ban the exchange’s operation within the West African nation.
In a Tuesday Interview with the News Agency of Nigeria (NAN), Aminu Gwadabe, President of the Association of Bureaux De Change Operators of Nigeria (ABCON), expressed that the Seychelles-based exchange was one of the factors behind the pressure on the Nigerian Naira and should be prohibited from the operating within the Nigerian Market.
Binance Growing Influence In Nigeria Is “Unfortunate,” ABCON’s President Says
While speaking to NAN, ABCON’s president, Gwadabe, noted that Binance’s influence in the Nigerian financial markets was growing strong, which he described as a negative development. Gwadabe said:
If you know about Binance, you will know that Binance trading is becoming the anchorage of both the investors and exporters’ window…
