“We are concerned that certain practices go on that indicate flows, going through a number of these entities and suspicious flows. In the case of Binance, in the last year, $26 billion has passed through Binance Nigeria from sources and users who we cannot identify” – Governor of Central Bank of Nigeria, Olayemi Cardoso.
“There is a lot that is going on now as a result of collaboration between the different agencies which include the EFCC (Economic and Financial Crimes Commission), the police, and of course the office of the NSA (National Security Adviser), and in due course as we progress and have more information to share, we will certainly share, and suffice to say we are determined to do everything it takes to ensure that we take charge of our market or put it differently.
“Do not allow others to manipulate our market in a way that ends up distortionary and sub-optimizes for all Nigerians. We will not accept it and we will do everything possible to prevent any of these kinds of infractions from taking place”.
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Wow – that is a revelation. Binance moved $26 billion through Nigeria for a company that was banned in a sector that was “banned”? Yes, then, crypto companies were decoupled from the banking system, and yet, Binance was able to move an amount equal to Nigeria’s annual budget? How did that happen?
Poor Naira, now I can understand why you have no friends! Can they move the Central Bank of Nigeria headquarters to Ovim, Abia State? We have Ojengwa, the local police – all women – who administer “law enforcement” in Ovim. Stubborn young men self-report to Nigerian Police when they know that Ojengwa women are coming because those women are at another level. If CBN is handed over to Ojengwa, who knows??? Lol
Seriously, I call our leaders to Make Naira Great Again because Naira deserves to breathe. I wish them good luck with the right policies.
“We are concerned that certain practices go on that indicate flows, going through a number of these entities and suspicious flows. In the case of Binance, in the last year, $26 billion has passed through Binance Nigeria from sources and users who we cannot identify” – Governor… pic.twitter.com/eRG2Qld2DN
— Ndubuisi Ekekwe (@ndekekwe) February 28, 2024
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