Reno Omokri explains how Binance’s exit helped the naira gain strength: A breakdown of events
Former presidential aide and chieftain of the Peoples Democratic Party (PDP), Reno Omokri, has revealed that the Nigerian naira has seen a significant improvement in its value, trading at ₦1065 to $1, following the clampdown on global cryptocurrency company Binance by the office of the national security adviser.
Omokri commended the efforts of the NSA in taking action against Binance, stating that the naira was trading at ₦1880 to $1 on February 21, 2024, before the clampdown began. He emphasized that the naira started to appreciate immediately after Binance left Nigeria on March 5, 2024.
The former presidential aide highlighted the coordinated propaganda against the government when the NSA first moved against Binance, with many Nigerians siding with the foreign company. However, Omokri pointed out that the naira stabilized and began to appreciate once Binance was forced out of the country.
In a call for accountability, Omokri urged those who had criticized the NSA to apologize and acknowledge the positive impact of the clampdown on Binance. He emphasized the importance of supporting Nigeria’s interests over personal preferences, noting the significant improvement in the naira’s value since the cryptocurrency company’s departure.
Omokri’s insights shed light on the connection between the actions taken against Binance and the positive effects on the Nigerian currency, highlighting the importance of government intervention in safeguarding the country’s financial stability.
