Central Bank Chief Reports $26B Worth of Untraceable Funds Moved by Binance Nigeria in 2023

Country Faces Foreign Exchange Crisis

Key Points:

– The country is experiencing a crippling foreign exchange crisis
– Authorities are looking for ways to limit capital outflows
– One proposed solution is to use cryptocurrencies to manage transactions and prevent capital flight

Hot Take:

In the never-ending battle to manage financial crises, the country is turning to a modern solution – cryptocurrencies. As they say, when in doubt, HODL!

Read full article at https://www.coindesk.com/policy/2024/02/28/binance-nigeria-moved-26b-worth-of-untraceable-funds-in-2023-central-bank-chief-says-reports/?utm_medium=referral&utm_source=rss&utm_campaign=headlines