CBN Governor Cardoso explains position on Binance

The apex bank has continued to exchange information on Binance with other Nigerian government agencies, according to Governor of the Central Bank Olayemi Cardoso.

At the press briefing for the 294th Monetary Policy Commission Meeting in Abuja on Tuesday, Cardoso made this revelation.

The data from other agencies, according to him, was excellent.

He did, however, make it clear that the Nigeria Security and Exchange Commission regulates Binance rather than it.

“The CBN considers ourselves to have the wellwithdal to collaborate with other government agencies. That is a very important function. Where we see that we can work together, we do so. As I said about Binance a month ago, we did a collaboration with law enforcement agencies, the Economic Financial Crime Commission, and the Office of National Security Adviser.

“It is a work in progress, but it has been very positive. We have been sharing information. It is not our responsibility to regulate Binance, but it is the responsibility of the Security and Exchange Commission. Also, the issue of detained Binance Executives is the issue of the National Security Adviser”, he said.

Cardoso raised the alarm that $26 billion in unidentified funds passed through Binance in a single year, according to ZINGTIE recalls at the 293rd MPC.

As a result of the situation, Nigeria and Binance have been at odds for months.

When one executive from Binance, Nadeem Anjarwalla, escaped from lawful custody in Nigeria, the friction between the Nigerian government and Binance took on a new level.

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