By Nkechi OgbonnaThe Nigerian government says it has demanded almost $10bn in compensation from the cryptocurrency firm, Binance.
Cryptocurrencies are not illegal in Nigeria but firms must register in order to operate there, the government says. A special adviser to Nigeria's president told the BBC that Binance had failed to do this. To the frustration of Nigerian users, Binance and several other cryptocurrency firms have been suspended in the country in recent weeks including Coinbase, Kraken, Forextime, OctaFX, Crypto and FXTM in an attempt to halt the slide of the naira.
Central bank governor Mr Cardoso said on Tuesday that "illicit flows" had been spotted on some cryptocurrency platforms in Nigeria. No specific firms were named as culprits.