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Tag: Bayo Onanuga

Binance CEO Summoned by Nigerian Financial Crimes Committee Over 26 Billion Suspicious Trades!

Compliance tamir -
Binance finds itself under severe scrutiny in Nigeria following a recent settlement with the U.S. DOJ. Richard Teng, the new CEO of Binance, has been summoned to appear before Nigeria's House of Representatives Committee on Financial Crimes. This development was confirmed on Friday, with the committee's chairman, Ginger Onwusibe, issuing a stark ultimatum for Teng to make an appearance by March 4th to address allegations including money laundering and terrorism financing.

Binance Under Fire: Global Regulatory Crackdown Hits Hard in Nigeria

FinTelegram Ben -
In a bold move that has sent shockwaves through the crypto world, Nigeria has escalated its crackdown on digital currency exchanges, singling out Binance, the globe-trotting crypto behemoth, in an audacious bid to curb naira speculation. The African giant's latest actions include detaining two of Binance's top brass and confiscating their passports, a dramatic escalation in the state's war on crypto, the Financial Times reports.

Binance Faces Accusations of Currency Manipulation in Nigeria Amid Regulatory Scrutiny!

FinTelegram Ben -
Users of Binance in Nigeria have raised concerns that the crypto exchange might be manipulating the exchange rate between the Nigerian Naira and the US dollar, allegedly under government directives. On February 21, Bayo Onanuga, an adviser to Nigerian President Bola Tinubu, launched a direct critique on the social media platform X, suggesting that Binance was "overtly determining exchange rates for Nigeria, usurping the Central Bank of Nigeria (CBN)'s role."

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