Allegations of False Identities and Regulatory Violations
The witness, Olubukola Akinwumi, Deputy Director at the Central Bank of Nigeria (CBN), testified that many Nigerian users on Binance employ deceptive identities to engage in cryptocurrency transactions. Akinwumi, appearing as a witness for the Economic and Financial Crimes Commission (EFCC), emphasized that allowing users to withdraw Nigerian naira (NGN) for trades constitutes a regulated activity under Nigerian law.·
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