Forex Crisis: Over $26bn Routed Through Binance Without Trace In 4 Years – CBN Gov, Cardoso

Date: 27-02-2024 8:50 pm (1 month ago) | Author: onuigbo felicia
- at 27-02-2024 08:50 PM (1 month ago)
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Governor Olayemi Cardoso of the Central Bank of Nigeria (CBN) revealed that over $26 billion has been routed through the cryptocurrency platform Binance in the past four years. This disclosure came during a press briefing following the 293rd meeting of the Monetary Policy Committee (MPC) in Abuja.

Addressing questions from journalists regarding the recent restrictions imposed on Binance and other cryptocurrency platforms, Cardoso emphasized the significant amount of money flowing through Binance without proper traceability.

He further highlighted the CBN's commitment to implementing stringent regulatory measures, stating that the bank is transitioning to a more aggressive regulatory environment. Cardoso emphasized that there would be no tolerance for individuals or entities that fail to comply with the forthcoming regulations.

He warned that non-compliance would result in consequences, underscoring the necessity for adherence to regulatory standards.

The decision to restrict Binance and other cryptocurrency platforms coincided with the appreciation of the Naira against the USD, signaling potential impacts on Nigeria's financial landscape.

Posted: at 27-02-2024 08:50 PM (1 month ago) | Addicted Hero
- kp45 at 27-02-2024 09:00 PM (1 month ago)
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Cruise country
Posted: at 27-02-2024 09:00 PM (1 month ago) | Addicted Hero
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- fineboy77 at 27-02-2024 09:02 PM (1 month ago)
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 Shocked Shocked Shocked

Posted: at 27-02-2024 09:02 PM (1 month ago) | Addicted Hero
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- Holopid at 27-02-2024 09:06 PM (1 month ago)
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Hmm
Posted: at 27-02-2024 09:06 PM (1 month ago) | Gistmaniac
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