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Nigeria's Central Bank Governor Raises Concerns Over Billions of Untraceable Crypto Funds Flowing Through Binance

The Governor of the Central Bank of Nigeria has stated that in 2023, Binance in Nigeria received billions of dollars worth of crypto from unidentified sources. The country is currently facing a foreign exchange crisis and is seeking ways to restrict capital outflows. Last year, $26 billion worth of untraceable funds flowed through Binance Nigeria, leading to renewed calls to restrict crypto in the country. The Central Bank of Nigeria is investigating these fund flows with the help of various government agencies and the police. Binance has not yet commented on the matter.

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