Binance: Fruitful cooperation with the SEC, EFCC, and NSA – CBN Gov

CBN Gov

Binance; The Securities and Exchange Commission (SEC) should oversee cryptocurrency transactions in Nigeria, according to the Central Bank of Nigeria (CBN), which stated Tuesday that this is not the job of the national bank.

This occurred after Dennis Amachree, a former assistant director of the Department of State Services (DSS), claimed that the Office of the National Security Adviser (ONSA) was not a security agency and that Nadeem Anjarwalla, a high-ranking executive at Binance, should have been taken into custody by the DSS or the Economic and Financial Crimes Commission (EFCC).

Recall the NSA’s manhunt for Anjarwalla, Binance’s executive, who fled confinement, prompting a nationwide search.

Speaking on the subject yesterday at the Monetary Policy Committee’s 294th meeting of the apex bank, Olayemi Cardoso, the governor of the central bank, stated that cooperation in the last month has produced positive results with the SEC, the Office of the National Security Adviser (ONSA), and the Economic and Financial Crimes Commission (EFCC).

In response to a query regarding the CBN’s update on Binance, the cryptocurrency exchange platform that has been under heavy federal government scrutiny since the February meeting of the MPC, the head of the apex bank stated that $26 billion in suspicious flows went via Binance last year.

Cardoso emphasized the importance of collaborating with government agencies, asserting confidence in their capability to do so effectively.

We actually did collaborate with law enforcement agencies, the EFCC, the SEC, and other regulatory bodies about a month ago. We’re still working out the results, but from what I can tell, they’re quite positive.

“The NSA has been receiving information from us. However, the Security and Exchange Commission exclusively regulates cryptocurrencies; we do not have jurisdiction over this matter.

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