The authorities believe such platforms have engaged in currency speculating that has led to a devaluation of the Nigerian naira Nigeria has blocked user access to several major cryptocurrency exchanges in a bid to protect the national currency, the naira, according to a report this week by the local online newspaper Premium Times. The report stated that the measures had been ordered by the Nigerian Communications Commission. “Premium Times is correct,” presidential spokesman Bayo Onanuga said in a post on X (former Twitter), adding that the directive affects major platforms such as Binance, OctaFX, Coinbase, and o
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