The Biafra Republic Government In-Exile (BRGIE) and Finland-based pro-Biafra Nation agitator, Simon Ekpa, have confirmed the official launch of Biafracoin Cryptocurrency website for digital savings and wealth creation for Igbo people and other users.
The BRGIE and its self-proclaimed Prime Minister, Ekpa disclosed this in a statement on X platform on Thursday.
According to Ekpa, with USBT, the Bank of Biafra offers what he described as a whopping 18 percent interest on Biafracoin investment staking while other investments provide a rate as low as five percent.
Ekpa in the statement corroborated by the BRGIE said they had provided alternatives for “Biafrans and others who wish to save their wealth and money through Biafracoin” amid the challenges facing the Nigerian economy.
The launch of Biafracoin comes barely three weeks after BRGIE announced the unveiling of the Biafracoin and Bank of Biafra.
The Nigerian Government recently demanded $10 billion as a fine from a popular cryptocurrency trading platform, Binance.
This was confirmed by Bayo Onanuga, Special Adviser on Information and Strategy to President Bola Tinubu in an interview with the BBC.
The presidential aide said the fine was demanded for the illegal operations of Binance which contributed hugely to the devaluation of the country’s currency, naira in recent times.
This comes amid a crackdown on cryptocurrency platforms by the government in a bid to stabilise the naira’s value.
“The platform fixes the exchange rate for the country and it is an illegal rate. The CBN is the only authority that can fix the exchange rate for the country,” Onanuga was quoted as saying by BBC.
He added, “Binance platform harbours people who fix the exchange rate which quickly affects the Nigerian economy for the time when Nigeria is trying to stabilize the economy.”
“Binance staff cooperated with the government to provide information.”
Binance subsequently removed the naira from its peer-to-peer feature.
The feature, known as the P2P market, allows users, buyers, and sellers to transact without the intervention of a third party.
Onanuga had also said if not stopped, Binance would destroy the Nigerian economy because of the way it arbitrarily fixed foreign exchange rates.
