Nigeria has instructed its telecommunications companies to block access to Binance, OctaFX and Coinbase in a bid to curb currency speculation in the country.

On February 21, Presidential Advisor Bayo Onanuga accused Binance of manipulating the Nigerian naira and called for a ban on cryptocurrencies in the country.

Locals said the naira crisis was caused by the country's poor policies and not by cryptocurrencies and exchanges.

In December 2023, the Central Bank of Nigeria lifted the ban on cryptocurrency trading.

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