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Binance: CBN’s collaboration with NSA, EFCC, SEC, others yielding positive results –Cardoso

Dr. Olayemi Cardoso, Governor of CBN

*Dr. Olayemi Cardoso, Governor of Central Bank of Nigeria, affirms the Bank’s collaboration with the Office of NSA, law enforcement agencies as EFCC, Securities and Exchange Commission (SEC), and others regulatory bodies, is a work in progress, and very positive

Isola Moses | ConsumerConnect

The Central Bank of Nigeria has said the Bankers’ Bank collaborations with other regulatory agencies on investigating the activities of Binance Nigeria have yielded results.

ConsumerConnect reports Dr. Olayemi Cardoso, who stated this in a communique issued Tuesday, March 26, 2024,  after the Bank’s Monetary Policy Committee’s (MPC) second meeting since his assumption of office as CBN Governor, stressed the significance of Nigerian authorities’ recent clampdown on the cryptocurrency platform, Binance.

The CBN’s collaboration with other government agencies is yielding results, said he.

It is recalled that some Binance Executives were detained in the country, but one of them recently escaped from custody, according to the Office of the National Security Adviser (ONSA) in a statement.

Cardoso further said: “We consider ourselves as having the wherewithal to collaborate with other agencies of government, and that is a very important function for us.

“About a month ago, we actually did have collaboration with law enforcement agencies, EFCC, the SEC, and other regulatory bodies as well, and what came out of that, is a work in progress, but very positive as far as I can say.”

He further affirmed “the NSA, we’ve been sharing information together.

“However, in this particular case, the responsibility for regulating cryptocurrency is not our role, it isn’t ours.

‘It is strictly that of the Security and Exchange Commission, not our responsibility.”

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