Nigeria’s Central Bank is capable of tracking illicit financial transaction but isn’t doing so because of corruption.
''In the case of Binance, In the last year, 26 billion dollars has passed through Binance Nigeria from sources and users who we cannot adequately identify.''
On February 27, Central Bank of Nigeria Governor Yemi Cardoso claims the country is unable to identify and prevent the cryptocurrency flow schemes used by Binance: “Identity verification requires information that can be used to — of course — verify your identity, like a valid ID card, utility bills containing your home address, or a passport,”in a blockchain that also contains the transaction value, the block number and a transaction hash that is similar to a receipt.
The DOJ announcement added: “Binance’s founder and chief executive officer , Changpeng Zhao, a Canadian national, also pleaded guilty to failing to maintain an effective anti-money laundering program, in violation of the BSA and has resigned as CEO of Binance.”
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