BREAKING: Nigerian government arrests and detains two Binance executives after website ban

BREAKING: Nigerian government arrests and detains two Binance executives after website ban

Apart from Binance, other platforms such as Forextime, OctaFX, Crypto, FXTM, Coinbase, and Kraken, among others were also blocked.

On Wednesday, several crypto exchanges barred users from buying the USDT and USDC stablecoins.

The Central Bank of Nigeria (CBN) on Tuesday raised concerns over $26 billion that flowed through Binance Nigeria over the past year from “unidentified sources”.

CBN Governor, Olayemi Cardoso, expressed worries over the significant volume of transactions passing through Binance Nigeria, emphasizing that the origins and beneficiaries of these funds are yet to be adequately identified.

“We are concerned that certain practices go on that indicate illicit flows going through a number of these entities and suspicious flows at best.

“In the case of Binance, in the last one year alone, $26 billion has passed through Binance Nigeria from sources and users who we cannot adequately identify,” he stated.

Full Story: https://www.intelregion.com/news/nigerian-government-arrests-and-detains-two-binance-executives-after-website-ban/
TAGS: #BREAKING #Nigerian #government #arrests #detains #Binance #executives #website #ban


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