The Central Bank of Nigeria (CBN) governor, Yemi Cardoso, has said that Binance operations in Nigeria have been used to funnel illicit and suspicious flows.
Cardoso said this on Tuesday, after the MPC meeting in Abuja.
He also stated that over $26 billion illicit flows have passed through the crypto platform Binance in the last year.
He said, “We are concerned that certain practices go on that indicate illicit flows, going through a number of these entities.
“In the case of Binance, in the last year, $26 billion has passed through Binance Nigeria from sources and users who we cannot adequately identify,” he told reporters in his first MPC meeting since assuming office as the CBN governor.
READ MORE: Hardship: Naira Grossly Undervalued, Cardoso Says
Nigeria has been battling economic woes in recent months, but Cardoso said his team is not responsible for that.
The CBN governor further said that the authorities are working on controlling the situation.
Bayo Onanuga, a spokesperson for Bola Tinubu accused Binance of hijacking the role of CBN in determining the value of Naira in Foreign Exchange.
Onanuga called on government agencies to move against the cryptocurrency platform and suggested ban on cryptocurrency exchanges in Nigeria.
