We Are Not Responsible For Nigeria’s Current Woes – CBN

The Central Bank of Nigeria (CBN) governor, Yemi Cardoso has come out to say that over $26 billion passed through the crypto app, Binance Nigeria in the last four years.

He recently had his say after the Monetary Policy Committee (MPC) meeting in Abuja, and Nigerians have been reacting.

According to him, he can confirm that 26 billion dollars has passed through Binance Nigeria from sources and users who CBN cannot adequately identify.

Yemi added that CBN is not responsible for Nigeria’s current woes, and the financial institution is actually part of the solution.

His words, “In the case of Binance, in the last one year, 26 billion dollars has passed through Binance Nigeria from sources and users who we cannot adequately identify.

I laugh at that question but it’s not a laughing matter and I think it is very important for Nigerians to understand that the Central Bank Governor — I and my team — are not responsible for the woes that we have today; we are part of the solution.

We are determined to ensure that we work hard to get out of the mess that Nigeria is in. We assumed responsibility in a time of crisis of confidence; there was a crisis of confidence and you may all want to go to bed and wish that crisis of confidence was not there but it was, and we can’t turn back the clock.

All we can do is do the difficult things to make a bad situation better and I do believe that the efforts that we are making are beginning to bring back confidence because to be frank, without confidence in your business, you are not going to get far.”