Nigerian central bank head criticizes Binance, execs reportedly arrested - Qoneqt
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    Asad Shaikh in Binance

    29 Feb 02:00 PM

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    Nigerian central bank head criticizes Binance, execs reportedly arrested

    Crypto exchanges have been suspected of destabilizing the Nigerian naira fiat, but the country’s top central banker said Binance moved billions from unidentified users in 2023.
    Binance is facing more scrutiny in Nigeria, the governor of the Central Bank of Nigeria (CBN) told reporters on Feb. 27, regarding “suspicious flows” of funds through Binance Nigeria in 2023. The country’s Securities and Exchange Commission and other government agencies are already eying the cryptocurrency exchange with suspicion.

    CBN head Olayemi Cardoso said crypto exchanges in Nigeria are under suspicion. “We are concerned that certain practices go on that indicate illicit flows going through a number of these entities, suspicious flows at best,” he told the local press on Feb. 27.


    Source - Coin Telegraph
    #Nigeria
    #Africa
    #Binance
    #Regulation

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