Nigerian Central Bank Governor Criticizes Binance

The governor of the Central Bank of Nigeria has announced that Binance is currently under intense scrutiny in the country. This comes after reports of suspicious financial transactions through Binance Nigeria in 2023.

The Securities and Exchange Commission and other government agencies are already investigating the cryptocurrency exchange.

Olayemi Cardoso, the head of CBN, expressed concern over the questionable practices of crypto exchanges in the country, stating that there is evidence of illicit flows of funds through these entities.

The government has taken action by collaborating with agencies such as the Economic and Financial Crimes Commission, the police, and the National Security Adviser to address these issues.

Furthermore, two Binance executives have allegedly been detained by the office of the NSA in Abuja and their passports have been confiscated. These executives are citizens of the US and UK.