$26bn passed through Binance from...

[Charles-Tim]

$26bn passed through Binance from people that CBN cannot adequately identified says CBN governor.

The CBN governor, Cardoso disclosed this on Tuesday after the 293rd meeting of the Monetary Policy Committee in Abuja.

This is the video on YouTube: https://youtu.be/kmjUwP8-Xzc?si=Tfq0AwLOt0O9rZjb

If you do not have time, start watching from 19:50.

He also talked about more regulations are coming with zero tolerance. That was before 19:50.

[Y3shot]

This money does not belong to government,  this money belongs to common Nigerians that are looking for a way to survive
 I think this shouldn't be a problem to Federal government because it is not government money.  They should be worried about the mismanagement of money in the oil sector,  the CBN.  The government needs to be worried about politicians that are claiming properties that be long to the country, this are the things politicians need to be disturbed of and not about cryptocurrency.  Cryptocurrency have been of good benefit to the youth, if not thst some youths engaged in cryptocurrency how would they have survive now that the country is hard and without job for the people.

[Charles-Tim]

This money does not belong to government,  this money belongs to common Nigerians that are looking for a way to survive

Nigerians mostly uses payment processors before, but CBN banned bitcoin and other cryptocurrencies. We moved to P2P and Nigerians will not label the bank transaction as cryptocurrencies. CBN unban cryptocurrencies but Nigerians still prefer P2P. What did he mean? That the money (naira) in the bank used to buy bitcoin and other cryptocurrencies are not legit? I am disappointed that CBN can say they can not adequately identified the money (naira) that passed through Binance.

[Cryptomultiplier]

By now I don't even bat an eyelid when I hear such claims by a serving CBN governor who works for the government and help make and device policies that is sure to benefit the rich and powerful in society while damning the common man who barely has a good job or is even employed.
Let them regulate all they want, but we know clearly that cryptocurrencies and Binance has hardly been accepted or given a good chance to operate in the country, unless it's used for business transactions and payments overseas. They created CBDC to prevent adoption of cryptocurrency but now that many youths have been exposed to internet and created an income stream that is untouchable  by the banks, they suddenly would say anything to claim control of crypto currency money and owners of it too.

[Amphenomenon]

This money does not belong to government,  this money belongs to common Nigerians that are looking for a way to survive

Nigerians mostly uses payment processors before, but CBN banned bitcoin and other cryptocurrencies. We moved to P2P and Nigerians will not label the bank transaction as cryptocurrencies. CBN unban cryptocurrencies but Nigerians still prefer P2P. What did he mean? That the money (naira) in the bank used to buy bitcoin and other cryptocurrencies are not legit? I am disappointed that CBN can say they can not adequately identified the money (naira) that passed through Binance.

They are trying to act up, being dramatic again I do not care what those liars called government says they are the actual once ruining the naira, if they can not identify them its a lie to me since as long as binance exchange does kyc and under legal right through SEC this individuals identity can be well known to them since we notice this with Sinbad last year.

In the end no of their plans will stop Bitcoin and cryptocurrency adoption for growing especially now when majority investors have now been knowledgeable about the Truth

[Cryptoprincess101]

This money does not belong to government,  this money belongs to common Nigerians that are looking for a way to survive

Nigerians mostly uses payment processors before, but CBN banned bitcoin and other cryptocurrencies. We moved to P2P and Nigerians will not label the bank transaction as cryptocurrencies. CBN unban cryptocurrencies but Nigerians still prefer P2P. What did he mean? That the money (naira) in the bank used to buy bitcoin and other cryptocurrencies are not legit? I am disappointed that CBN can say they can not adequately identified the money (naira) that passed through Binance.

Already I know that the ban CBN lifted on cryptocurrency was intentional so that they can have a statistical number of people who are using and investing on cryptocurrency across the country and am just Happy that despite that CBN lifted the ban a lot of Nigerians in the crypto space still prefers to use p2p for crypto transactions rather than coming out openly to make crypto related transactions that the government can easily track.

[Wiwo]

I am tired of seeing people with commercial banking experience becoming the central bank governor, for God sake, CBN is about policy formulations that check the activities of commercial banks,  and bringing their idea has hurt the economy even more than the money that laundered out of Nigeria via currency exchanges.

The truth is, these people are confused and for that,  there will be a high rate of policies that will be anti people, so we must have to expect that,  and also take the time to prepare for the time ahead since this current CBN governor may act worst than the previous one.

[Kelward]

This money does not belong to government,  this money belongs to common Nigerians that are looking for a way to survive

Nigerians mostly uses payment processors before, but CBN banned bitcoin and other cryptocurrencies. We moved to P2P and Nigerians will not label the bank transaction as cryptocurrencies. CBN unban cryptocurrencies but Nigerians still prefer P2P. What did he mean? That the money (naira) in the bank used to buy bitcoin and other cryptocurrencies are not legit? I am disappointed that CBN can say they can not adequately identified the money (naira) that passed through Binance.

Di news tire me wen I read am, CBN governor just de put blame for wetin no concern matter, where I read reach, dem no give any details to prove say na money laundering de pass through Binance or na there government people de stash dem stolen funds. I expect CBN to first carry out dem research first, to know weda di money wey de enter Binance na people own wey de do legitimate businesses or na di ones of corrupt government officials, so as dem de give report na so dem go de back am up with prove say na stolen funds.

Anyway if dem no see where to hold hand na so dem go come de tackle crypto matter, afterall Binance de centralized with customer KYC so make dem give names of people wey de do illegitimate runs for Binance and leave legitimate people alone.

[DaNNy001]

$26bn passed through Binance from people that CBN cannot adequately identified says CBN governor.

The CBN governor, Cardoso disclosed this on Tuesday after the 293rd meeting of the Monetary Policy Committee in Abuja.

This is the video on YouTube: https://youtu.be/kmjUwP8-Xzc?si=Tfq0AwLOt0O9rZjb

If you do not have time, start watching from 19:50.

He also talked about more regulations are coming with zero tolerance. That was before 19:50.

CBN and the governor sef no actually no watin dem wan blame for their stupid naira and economic decline, me I just believe say all these problems wey the naira dey face na something wey been don dey cook since for fire and e just bad say na now the whole thing come don because Nigeria has already being the one printing excess naira money that has so much caused the naira to lose its value but the issue wasn't address then and now that the country has been eaten up so badly they are now pointing fingers and blame to the wrong reasons.

[Spaceman1000$]

$26bn passed through Binance from people that CBN cannot adequately identified says CBN governor.

The CBN governor, Cardoso disclosed this on Tuesday after the 293rd meeting of the Monetary Policy Committee in Abuja.

This is the video on YouTube: https://youtu.be/kmjUwP8-Xzc?si=Tfq0AwLOt0O9rZjb

If you do not have time, start watching from 19:50.

He also talked about more regulations are coming with zero tolerance. That was before 19:50.

First of all, the activities that go on binance are all in crypto, and cryptocurrency is a decentralized currency, it is not controlled by any government, so if the cbn governor wants to bring policies that will control the activities of cryptocurrency on exchange wallet, it is not going to be possible,  just the way binance have reacted to the situation on ground, at best they had to remove the naira sector of P2P,  because you cannot sanction what you cannot. So CBN cannot monitor or try to gag the transactions that go on on cryptocurrency no matter the policy that they bring.

[Chibit01]

I wonder why governments fail to understand where the root of their problem so the central bank governor is now on the binace exchange platform now that huge amount of transactions are been done over there....

 My question is whose money is that it's this the national cake which they share with out consciences or is the oil money that they extravagantly spend without looking back or is that they loans they takes all time from the foreign country... My question is how can a country keep taking loans for consumption instead of production the same country thinks that their economy will not get rotten...

Please I think detaining,monitoring or sanctioning the binace exchange as one of the reasons behind the fall of your so called economy i think is a very mayopic and primitive Reason it is advanced at all in any way.

When their where reckless printing money that has a  low value to the expense of its production how on earth will ever thing that the currency will not be undermine indeed binace or exchange platform is not a cause of down fall of Naira I think is high time we start to tackle things from the root..

[Pi-network314159]

$26bn passed through Binance from people that CBN cannot adequately identified says CBN governor.

I see the reasons to why they remove Naira to dollar P2P on binance, but that is stupidity of them because there is no way sending out such huge amount from binance is a problem. Because when they deposited it, it was not a problem but when they withdraw it I becomes a problem. I don't really know what this our administration is really doing. First it was arresting aboki exchange and blaming them on inflating Dolla against naira because of the #30 addition in price. Now $26bn through binance. It is obvious that the money is moved by another politician. This CBN Governor forgot that there are many exchange that  people can still move such amount of dollars even if it is not from a CEX they can still move it from a Dex wallet.

[Uhwuchukwu53]

Right from when I see the tinibu government I know this will be the other of the day, that's why I ask if it's democracy or kakistocracy we are practicing. How can CBN state that the money passing through biance can't be accountable, with all the details of users it pathetic. it shows the kind of leaders without head leading us.
The politicians is not happy that the youth are surviving in this crypto currency means, the issue of endsars where the youth could raise money to found the process still at their heart. CBN has allot of monetary policy that would have account for everything and system will work efficiently but they don't implement they allow politicians to embezzled stockpile foreign currency now they want to bring another policy after ban on crypto before it's well.

I have one strong believe though sorrow may tarry at night but joy comes in the morning, if P2P will become the best way of transaction which initially was a tin of pain when they ban crypto, I have same believe that their policy will be another open door to explore another best easiest means of access crypto, all we need is to buckle up.

To introduce policy is not the issue to Handle it become the problem the more you make laws and policy the more you create problem because if you can't handle one thing is it when it's many you can handle, we are watching their part two as we have conquer part one.

[Zigabel]

CBN and the governor sef no actually no watin dem wan blame for their stupid naira and economic decline, me I just believe say all these problems wey the naira dey face na something wey been don dey cook since for fire and e just bad say na now the whole thing come don because Nigeria has already being the one printing excess naira money that has so much caused the naira to lose its value but the issue wasn't address then and now that the country has been eaten up so badly they are now pointing fingers and blame to the wrong reasons.

The former CBN governor use the changing of our currency to go print excess notes and now both the old and new dey in circulation and now we don dey suffer the after effects e com.dey be like say na cryptocurrency be dia problem, this country just get so many clueless people wey dey in power and even sometimes e b sat these people sef fit know wetin the actual problem be but probably because of the benefits some of dem they get when the economy dey bad dem no go wan Fix anm rather they go just dey do another thing just to make am look to the common Man like say them dey actually do something to revive the economy a d this Tim wey dem dey do now go still get em after effects wey go still came later after now too but for now e dey look to dem like say nothing they happen.

This government just dey do dia sef by using pipo wey no get d solution to our problem and the president himself just they do anything wey dem advice am wey him tink say dey alright meanwhile him sef no understand say no be all dis tinz wey him dey do now go help d country.

[teamsherry]

This money does not belong to government,  this money belongs to common Nigerians that are looking for a way to survive
 I think this shouldn't be a problem to Federal government because it is not government money.  They should be worried about the mismanagement of money in the oil sector,  the CBN.  The government needs to be worried about politicians that are claiming properties that be long to the country, this are the things politicians need to be disturbed of and not about cryptocurrency.  Cryptocurrency have been of good benefit to the youth, if not thst some youths engaged in cryptocurrency how would they have survive now that the country is hard and without job for the people.

I understand that our federal government might be messy but let's be sure about things before we point hands, I know we are on the receiving end as cryto users but you are well aware that some frudster could also be using this app to exchange money, and that amount going moving out of binance in a day is quite a lot if you think of it.

I'll want to know the whole story before I point hands, binance might even be the wrong people in this context, just to be safe, be a self custodian untill the smoke has cleared than we would know what is safe to do and not with our holdings.

[Forever101]

From my observation, cryptocurrency usage might hit another road block in Nigeria. Most users of binance will definitely switch to other app which is the sure thing. If that be the case, the Nigeria government will definitely go after all the exchanges, which implies the possiblity of bitcoins  to be prohibited for a period of time until their findings are concluded.

[Wiwo]

From my observation, cryptocurrency usage might hit another road block in Nigeria. Most users of binance will definitely switch to other app which is the sure thing. If that be the case, the Nigeria government will definitely go after all the exchanges, which implies the possiblity of bitcoins  to be prohibited for some time until their findings are concluded.

It will be hard to see a Bitcoin ban in Nigeria again because of the decentralized nature of Bitcoin,  be for now,  there are ways that trades takes place and the most popular is p2p which offers some form of privacy that complies with Bitcoin standard of privacy and non third-party ability,  so even if there be a second climb down on all exchanges it won't still end bitcoin transactions in Nigeria.

I think the government is trying to stabilize the naira and giving it a benchmark #1500 to $1 price which will help to give the naira some more stable level,  this could be a short-term solution and the government should be ready to develop a more effective long-lasting solution thos issue of naira crisis.

[Benedictare]

All the government are trying to do is get money from Binance,you know they have being operating illegally without paying tax that is what they are after, now the government wants them to pay for their backlog after which they will impose their taxation, because they will be making money from them ,just a matter of day,it Wii be sorted out.