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CBN wants Binance to Pay $10 Billion fine

1 month ago   MARKET NEWS   Lagos   395 views Reference: 314

Location: Lagos


Nigeria is looking to get $10 billion from Binance because they believe the crypto platform earned money from illegal transactions in the country. Bayo Onanuga, the special adviser on information and strategy to President Bola Tinubu, spilled the beans on this during a chat with the BBC on a Friday morning.

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Onanuga's claim is that Binance made a profit through illegal transactions happening in Nigeria. This demand for a hefty fee is part of a larger issue where Binance is under scrutiny for allegedly playing a role in currency speculation in the country. The authorities seem to be cracking down on these allegations, and it's making quite a buzz in the crypto world.