Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, revealed that the anti-graft agency has discovered another worse scheme other than crypto trading platform Binance and its system.
He said the agency has frozen about 300 accounts to ensure the safety of the foreign exchange market, Channelstv reports.
The scheme, popularly called the “P to P” peer- peer financial trading scheme, has reportedly operated outside the official banking and financial corridors and there was a looming disaster that could further crashed the Naira value that has continued to gain.
“There are people in this country doing worse than Binance,” he said, adding that over $15bn passed through one of the platforms in the last one year, outside the financial regulations.
Meanwhile, police authorities in Kenya have reportedly arrested Nadeem Anjarwalla, an executive of cryptocurrency platform Binance, who fled Nigeria some weeks ago.
Anjarwalla had escaped from custody in Nigeria following the Federal Government’s crackdown on the cryptocurrency platform in a bid to strengthen the naira.
While the Nigerian authorities later traced Anjarwalla to the East African nation, multiple reports say the Binance executive is now in the custody of the Kenyan police.
According to the reports, government sources in Kenya confirmed that the Binance chief is now in the custody of the country’s police.