Charges against Binance executives dropped by the Federal Government of Nigeria.

[CryptSafe]

I was surfing the internet today when I stumbled upon an online dailies with the captions "FG drops tax charges against Binance executives"  It was very interesting to read because this case has long lingered and as such, anyone who is in the Crypto space in Nigeria would find it interesting to read for a follow up.

From what I could deduce from the news, the charges was dropped today the "14 of June 2024". After I saw this publication, I remembered a publication where the US government was called upon by her citizens to intervene on this matter and that was not too long and here we are hearing that the binance executives have their charges against them dropped. This makes me begin to wonder if the federal government really have idea what they are doing. I strongly believe that they were just detaining the binance officials to force out money from binance but the organisation knows their rights and refused to give into pressure from the Nigeria government.

From the news I read one of the captions which says "Further illustrating that Tigran is not a decision-maker at Binance and does not need to be held in order for Binance to resolve issues with the Nigerian government." This further buttress how ignorant the agencies and the Nigeria government are. This should have been the first thing they should have looked into and putting it into considerations before acting stupidly. With this, they have shown the world how ignorant our agencies and agents are to have held someone for this long without properly following due course all in the name of desperacy to extort  cash from them as being exposed earlier by the binance top executive.

Could this action be as a result of a possible intervention from an international  community or organisation?

Source

[Frankolala]

Chai, Tinubu and him administration don disgrace us again for public. You see how ignorant Nigeria government be and them just dey do things anyhow without thinking. In fact our leaders are incompetent people who are sitting in offices that they don't know how to manage. Corruption and greed make them no wise to learn how them dey do something.

After I see say the politicians for US don go meet Biden their presido say Nigeria government arrest Binance executive with kurukere way say make Biden look into the matter. Na since then I know say Nigeria government don fall their hand and shame go always dey be their own.

See the info here on meeting their presido https://bitcointalk.org/index.php?topic=5498914.msg64172009#msg64172009

[Moreno233]

Could this action be as a result of a possible intervention from an international  community or organisation?

Source

I don't know why I have this strong feeling that the federal government have seen that if they pursue this case, a lot of government officials will be exposed. How many Nigerians have billions to move through Binance if not of those in politics that are looting our national treasury? I remember that there a time the federal government insisted that Binance must give them a list of their top users from Nigeria. Maybe Binance have shown them what such list look like and they concluded that pursuing that case will backfire on them. They may not admit this in public but this will be the real reason they stepped down on the case.

There were indications that top government officials of the last administration were heavily involved in cryptocurrency. I don't want to mention names but if you follow social media you would have seen some post of investigative journalists two years ago when they revealed that some top officials own accounts in exchanges even with their real names.

[GiftedMAN]

I strongly believe that they were just detaining the binance officials to force out money from binance but the organisation knows their rights and refused to give into pressure from the Nigeria government.

Who knows if the Nigerian government and binance have had a close door meeting and they have given them some $$ before they released the binance officials? at this point I don't trust both the Nigerian government and binance because they are yet to come out publicly to address the people on the reason why they granted the officials bail and the dialogue between them and binance. Who knows if binance have agreed to submit the list containing the names of her Nigerian users as earlier requested by the Nigerian government we just need to be careful because the present administration is aimed at making sure they achieve whatever they want the people to do and they don't really care if the citizens will accept it or not.

[Agbamoni]

Omor this one weak me. Ah really done tire for all this matter. Last last no be who mature for age get sense, if our president no get sense at this age at least people wey they him cabinet wey suppose they give am advice suppose they try tell am the right thing to do. The truth be say no be to rule be the problem oh na how you rule and weting you do go make people in the futre remember your name. Tinubu done fall him hands well ever since him enter seat and as him no wan learn lesson make him continue to they fall in hands worldwide. Na because of all this things they make people for outside they think say all Nigerians mumu because our leaders no get shi shi for head.

[Josefjix]

Chai, Tinubu and him administration don disgrace us again for public. You see how ignorant Nigeria government be and them just dey do things anyhow without thinking. In fact our leaders are incompetent people who are sitting in offices that they don't know how to manage. Corruption and greed make them no wise to learn how them dey do something.

After I see say the politicians for US don go meet Biden their presido say Nigeria government arrest Binance executive with kurukere way say make Biden look into the matter. Na since then I know say Nigeria government don fall their hand and shame go always dey be their own.

See the info here on meeting their presido https://bitcointalk.org/index.php?topic=5498914.msg64172009#msg64172009

Now they all the charges has been dropped and all tax accusations dropped and Binance pronounced not guilty of all the charges against them, what's the way forward? Are the Govemment going to bring back Naira/USDT Naira/BTC pairs back to their platform with P2P?

Binance supposed demand fine from the Nigeria Govemment for illegal detention and for all the damages they caused his family for the past two months.

[Mr.suevie]

Omor this one weak me. Ah really done tire for all this matter. Last last no be who mature for age get sense, if our president no get sense at this age at least people wey they him cabinet wey suppose they give am advice suppose they try tell am the right thing to do. The truth be say no be to rule be the problem oh na how you rule and weting you do go make people in the futre remember your name. Tinubu done fall him hands well ever since him enter seat and as him no wan learn lesson make him continue to they fall in hands worldwide. Na because of all this things they make people for outside they think say all Nigerians mumu because our leaders no get shi shi for head.

Well brother i actually feel your anger but this current government wey enter don really speak for themselves because with the way they have done things, it's now very clear to see that this particular  hatred has been coming ever since and na why many people no even vote am in the first place.  He used money to buy his way up there and for some reason I no even feel say na him money na purely manipulation of the results and so when it came to the expectation I wasn't really expecting much from a government whose superior head can't even manage himself.

[kentrolla]

Either they got their share or someone at a very high level in the government was about to be exposed hence they have sorted it out. What else can we expect from Nigerian government? Nothing good comes out of them but atleast they shouldn't try to destroy what is giving some additional income to their unfortunate citizens. It's really painful to even imagine what a Nigerian common man goes through in their daily life.

[Charles-Tim]

Either they got their share or someone at a very high level in the government was about to be exposed hence they have sorted it out.

I think US government intervention is likely the reason the case was dropped. Those two executives are not Richard Teng. US might have investigated it and noticed that those two executes are not involved in decision making. Even if it is a lie, how can Nigeria government let people know that it is a lie? No way. So US can make Nigeria realize that they brought up a case they can not win. And yes they can not win it. This shows how useless some leaders are in Nigeria. Why do they even filed a stupid lawsuit against such people. Instead for the government to look towards taxing, they busy themselves with irrelevant lawsuit. Now nothing comes out of it.

[nelson4lov]

I'm sure there was an intervention somewhere but that's not what really matters to me. It's the fact that our government has just shown that they know nothing other than the basic, publicly available information about crypto and choose to use it as an opportunity to extort money. Binance CEO already said it and it was already giving a bad outlook to the country especially as CBN was heavily accusing Binance just so they can shift the blame elsewhere.

I'm curious to know what's going to happen next. Are we going to see the regulatory pressure on crypto die down? Because I feel like FG, CBN and EFCC has already given everything to push their narrative and it would be futile to keeo doing it since it's a failed project anyway.

[Ishicryptic]

Chai, Tinubu and him administration don disgrace us again for public. You see how ignorant Nigeria government be and them just dey do things anyhow without thinking. In fact our leaders are incompetent people who are sitting in offices that they don't know how to manage. Corruption and greed make them no wise to learn how them dey do something.

After I see say the politicians for US don go meet Biden their presido say Nigeria government arrest Binance executive with kurukere way say make Biden look into the matter. Na since then I know say Nigeria government don fall their hand and shame go always dey be their own.

See the info here on meeting their presido https://bitcointalk.org/index.php?topic=5498914.msg64172009#msg64172009

Now they all the charges has been dropped and all tax accusations dropped and Binance pronounced not guilty of all the charges against them, what's the way forward? Are the Govemment going to bring back Naira/USDT Naira/BTC pairs back to their platform with P2P?

Binance supposed demand fine from the Nigeria Govemment for illegal detention and for all the damages they caused his family for the past two months.

This is a relevant question and the way forward for Binance exchange services in Nigeria, now that the Binance officials have been released, is the Nigerian government going to allow naira/BTC p2p pair? It is clear that it must be the US government's pressure that facilitated the Binance officials release from the Nigerian detention, and this has gone to show the level of subordination of our government to the control of another country because they could not do the right thing at the right time. It is a pity that the Nigerian government are focusing on an exchange in the country to combat our devaluing naira, after disabling p2p in Binance and arresting it's officials. So how has this disabling and arrest helped the naira or the economy? 

[CryptSafe]

Either they got their share or someone at a very high level in the government was about to be exposed hence they have sorted it out.

I think US government intervention is likely the reason the case was dropped. Those two executives are not Richard Teng. US might have investigated it and noticed that those two executes are not involved in decision making. Even if it is a lie, how can Nigeria government let people know that it is a lie? No way. So US can make Nigeria realize that they brought up a case they can not win. And yes they can not win it. This shows how useless some leaders are in Nigeria. Why do they even filed a stupid lawsuit against such people. Instead for the government to look towards taxing, they busy themselves with irrelevant lawsuit. Now nothing comes out of it.

You postulations are very much likely correct sir. Nigeria government I know can not just drop a case of this nature just like that without gaining something at hand. Either they forget the accused in jail or they pay heavily to bail them out. I think the US government intervention was the reasons why Nigeria government dropped the charges against the binance officials. They must have carried out a discrete investigation within the binance hierarchy to ascertain the responsibility of those officials and found out with facts and evidence that they are not amongst the decision making members of the organisation and as such the Nigeria government is fighting a lost battle and would be in their own interests to retract or face the disco when it becomes louder than they could imagine.

This shows a big lapses in our government agencies as they do not thoroughly discharge their duties by conducting investigation properly. With this mess they have caused for themselves before the international community, it would be difficult for them to hold an international diplomat without being disrupted by the international community because they would always use this binance case as a case study to defend their people or halt any further actions and tell the government to conduct a thorough investigation before coming forth so that they do not wrongly hold their citizens down and this would likely cause a delay and give who ever they are going after time to abscond.

[Obari]

I love when I see news like this but frankly I no Dey in favour of the fact say, major news and also negative news like this go dey the board with plain English which is absolutely wrong because at the end of the day, this things Dey make the board easily porous and very accessible for these white men when dem enter the board.

On the other hand, normally, our country Dey very poor in investigations like this and from the look of things, the country Dey get inferiority complex especially when faced with a major and powerful countries like the states and as such, we no Dey get that boldly to oppose their decisions but rather we Dey easily give in to their demands because we no Dey ever get facts and evidence to back up our findings.

From the onset, me I just know say this matter no go get head but I come Dey surprised why e take so much time to drop this charges because those binance men, no get anything wey government Dey actually good dem for and as dem Dey always act careless and blindly when making decisions and putting them to actions

[Marykeller]

Chai, Tinubu and him administration don disgrace us again for public. You see how ignorant Nigeria government be and them just dey do things anyhow without thinking. In fact our leaders are incompetent people who are sitting in offices that they don't know how to manage. Corruption and greed make them no wise to learn how them dey do something.

After I see say the politicians for US don go meet Biden their presido say Nigeria government arrest Binance executive with kurukere way say make Biden look into the matter. Na since then I know say Nigeria government don fall their hand and shame go always dey be their own.

See the info here on meeting their presido https://bitcointalk.org/index.php?topic=5498914.msg64172009#msg64172009

When a sitting government don't know their work on how to fix the nation, the end up pursuing shadows up and down. This na to sae, this our government don fail us, dem don be laughing stock give international and local bodies sae them no sabi the rule of laws that you don go about arresting another citizen of a country from another country just because you find them guilty in your own country.

At the end of all this arrest and no arrest, wetin the cause the high inflation of naira to dollar still dey, em never stop. FG no fit because of that realize sae they are pursuing shadows all along, and dem do very big mistakes sae crypto exchange be the main cause of everything wey naira the increase to dollar