Central Bank of Nigeria Governor, Olayemi Cardoso, has expressed positivity regarding the collaboration between the apex bank, Securities and Exchange Commission, Economic and Financial Crimes Commission, and the Office of the National Security Adviser.
Speaking at the 294th meeting of the Monetary Policy Committee on Tuesday, Cardoso emphasized the fruitful outcomes of the collaborative efforts over the past month.
“We consider ourselves as having the wherewithal to collaborate with other agencies of government, and that is a very important function for us,” Cardoso stated.
He further highlighted the recent collaboration with law enforcement agencies and regulatory bodies, including the SEC and EFCC, as productive, although still a work in progress.
Regarding cryptocurrency regulation, Cardoso clarified that it falls under the purview of the Securities and Exchange Commission, not the CBN.
“In this particular case, the responsibility for regulating cryptocurrency is not our role; it is strictly that of the Security and Exchange Commission, not our responsibility,” Cardoso explained.
The remarks come amid heightened scrutiny of cryptocurrency platforms like Binance by the Nigerian government, following allegations of speculation and tax evasion.
Last month, two Binance executives were detained by the NSA office during talks with the government, with one of them, Nadeem Anjarwalla, escaping lawful custody. The government has initiated a manhunt for Anjarwalla, seeking Interpol’s assistance.
The government has also filed tax evasion charges against Binance and its executives, including Anjarwalla and Tigran Gambaryan.
Additionally, efforts to compel Binance to disclose the names of its Nigerian traders have faced resistance from the platform.
