The Governor, Central Bank of Nigeria (CBN) Olayemi Cardoso on Tuesday said US$26 billion has passed through Binance Nigeria from sources and users who cannot be adequately identified.
He said this while addressing the press after the Monetary Policy Committee (MPC) meeting where the MPC raised its benchmark interest rate, known as the Monetary Policy Rate (MPR) to 22.75 percent, for the first time in eight months. The Cash Reserve Ratio (CRR) was increased to 45 percent.
According to Cardoso, the consequences of such illicit transactions to Nigeria’s financial system informed the recent regulatory actions against some of the Crypto exchanges.
He said there is a lot that is going on now as a result of collaboration between different agencies which includes the Securities and Exchange Commission (SEC) and the Economic and Financial Crimes Commission (EFCC)
He also said Nigeria’s forex reserves have risen to $34 billion…
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