NFIU Warns Against Use Of BNBEX Over False Claims

The Nigerian Financial Intelligence Unit (NFIU) has dissociated itself from BNBEX’s activities and warned Nigerians against using the online trading platform.

BNBEX, a global cryptocurrency trading, with headquarters in Miami, Florida, USA, had claimed that the NFIU is conducting a compliance review of all transactions related to Nigerian users on her platform pursuant to Nigerian Financial Surveillance Regulation.

However, in a swift reaction, head, strategic communications department, the Nigerian Financial Intelligence Unit, Sani Tukur said such circular was not issued by the NFIU and bears no connection whatsoever to any of the unit’s current regulatory or compliance initiatives.

According to him, ” the NFIU wishes to inform all financial system stakeholders and the general public that it did not authorise nor author the document recently posted by BNBEX on its website, which falsely claims that the NFIU is conducting a compliance review of all transactions related to Nigerian users on her platform pursuant to Nigerian Financial Surveillance Regulation.

“The NFIU categorically states the circular was not issued by the NFIU and bears no connection whatsoever to any of the Unit’s current regulatory or compliance initiatives.

“Secondly, the Unit wishes to state that  ‘Nigerian Financial Surveillance Regulation’ referenced in the circular is non-existent and has no basis in Nigerian law or regulatory frameworks.

“It further states that the logo and insignia used in the circular does not belong to  NFIU and is fake.  Additionally, the Unit presently has no office situated at Central Business District, Abuja or any other location outside it’s head office at No. 1 Monrovia Street, Wuse II, Abuja.

“NFIU therefore, strongly dissociates itself from the claims made in the circular and urges members of the public to rely only on official NFIU channels for accurate and legitimate information. Finally, the Unit has no affiliation to the entity known as BNBEX nor validated any of its operations.

“For purposes of clarification or to report suspicious information purporting to be from the NFIU, please contact the Strategic Communications Department at [email protected].”