On Tuesday, Ola Olukoyede, the chairman of the Economic and Financial Crimes Commission (EFCC), announced that in addition to Binance and its system, the Commission has uncovered another, more sinister scam.
According to Olukoyede, the EFCC has blocked around 300 accounts in order to protect the foreign currency market.
The “P to P” peer-to-peer financial trading scheme, as it is commonly known, operates outside of the official banking and financial channels. The Naira’s continuous appreciation might face an impending catastrophe.
“There are people in this country doing worse than Binance,” he said.
He continued by saying that, in violation of financial laws, almost $15 billion went through one of the platforms in the previous year.
