Adedeji Owonibi, co-founder of Nigerian blockchain intelligence service supplier A&D Forensics, advocates for presidency regulation of cryptocurrency to fight monetary crimes like cash laundering.
He highlighted throughout a coaching session for cryptocurrency compliance consultants by a blockchain and digital forensics agency that the absence of rules in Nigeria’s crypto sector permits unmonitored practices to flourish.
Regardless of the Central Financial institution of Nigeria (CBN) just lately lifting the ban on crypto transactions, permitting banks to ascertain accounts for digital asset service suppliers (VASPs), Owonibi highlighted the significance of compliance specialist coaching. This coaching is geared in direction of guaranteeing that banks strictly adjust to relevant legal guidelines when participating with VASPs.
In an interview, Owonibi harassed the need for Nigerian monetary establishments to enlist the experience of compliance specialists. Their function is significant in verifying that every one funds flowing by way of their exchanges are usually not utilized for illicit functions.
Though acknowledging the Nigerian authorities’s efforts in coaching some legislation enforcement officers as compliance consultants, Owonibi highlighted the need for broader coaching throughout all safety companies to successfully fight monetary crimes.
Additionally Learn: Nigeria’s SEC Proposes High Fees for Crypto Firms