Revelations from the recent Monetary Policy Committee meeting of the Central Bank of Nigeria were alarming. CBN Governor, Olayemi Cardoso, announced that $26bn in untraceable funds had flowed through Binance Nigeria Ltd in the past year. These findings, in addition to unethical activities in the troubled forex market by banks and some bureau de change, as well as the actions of certain individuals manipulating the exchange rate, have hindered the CBN’s efforts to…
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