Ibukun Awosika, a former First Bank of Nigeria chairman, has been added to the Binance Advisory Board.
It was discovered that Ibukun Awosika has been added to the advisory board of Binance, one of the top cryptocurrency exchange businesses in the world. According to trade volume, Binance is regarded as the biggest cryptocurrency exchange in the world.
Max Bacus, a former U.S. ambassador to China, Hyung-Rin Bang, a counselor to the Korean Presidential Committee, Bruno Bézard, managing partner at Cathay Capital, a former economic adviser to the French prime minister and former head of the French Treasury, and Henrique de Campos Meirelles were among the other distinguished individuals from which the former chairman of First Bank of Nigeria was chosen.
A former head of the Central Bank of Brazil, Leslie Maasdorp, the New Development Bank’s chief financial officer, Adalberto Palma, a former senior advisor to the President of Mexico, Christin Schäfer, the founder of ACS Plus, Ed Vaizey, a member of the UK House of Lords, and David Wright, the chair of Eurofi, are also on the list.
The creation of the advisory board will enable the Binance exchange to push forward in the face of regulatory obstacles for cryptocurrencies.
Remember when the Financial Conduct Authority (FCA) ordered Binance to cease all UK-regulated operations in June 2021 because of concerns over lax consumer protection? Similar to this, Bloomberg News reported in May 2021 that Binance is under investigation for money laundering and tax evasion by the US Department of Justice and Internal Revenue Service.
Additionally, cryptocurrency-related transactions have been outlawed in Nigeria by the Central Bank of Nigeria. The Central Bank reiterated a 2017 order to financial institutions to prohibit any accounts that conduct cryptocurrency transactions in a circular published in February 2021.
Millions of ordinary investors continue to support cryptocurrencies despite the massive criticism, particularly in West Africa.
The West African nation was ranked third in July 2022 by the United Nations Conference on Trade and Development (UNCTAD) among the nations in Africa with the greatest concentration of cryptocurrency owners. Additionally, the research noted that more than 13 million Nigerians own
