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According to CoinDesk, Olayemi Cardoso, the Governor of the Central Bank of Nigeria, stated that last year, untraceable funds worth $26 billion flowed through Binance Nigeria. Nigeria is facing a forex crisis and is seeking ways to restrict capital outflows as the local currency, the Naira, hit a historic low on Wednesday. Apart from measures such as imposing taxes on foreign workers, the recent call to restrict cryptocurrencies in the country has made headlines again, with reports indicating that local authorities are blocking access to certain cryptocurrency exchanges, including Binance.
Last year, the country's securities regulator warned that the activities of Binance and an entity called Binance Nigeria Limited were illegal. According to local news website Nairametrics, the Central Bank of Nigeria is collaborating with various government agencies and law enforcement to further investigate these fund flows.
Furthermore, according to the Financial Times, two executives from Binance were detained in Nigeria. Sources revealed that these executives flew to Nigeria after the decision last week to ban several cryptocurrency trading websites in Nigeria, but they were detained by the National Security Advisor's office, and their passports were confiscated. |
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Post time 9-3-2024 15:20:05
