Government demanding from Binance the lists of its Nigerian users

[Charles-Tim]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

[Marvelockg]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

It's now obvious that our leaders want to use their hand to cripple our economy. Why the so much interest in crypto? They've not thought on ways to focus on dependence on our  locally manufactured goods or look for how to get Thier refinary working again so we don't have to be exporting our crude in exchange for petrol and they think looking for all the binance users will be the best solution to the current economic hardship?

The only reason why they are doing all these is just to make the gullible minds to believe that the problem and major reason behind the current economic hardship is from these trading platform.

If we even compare the amount of transaction that goes on binance to the amount of money used in importation and exportation of crude oil and petrol, which should be our concern? Because they are not directly benefitting from binance users they want to threaten them, why haven't they thought of looking for all those depending on imported product or make it compulsory that everyone must consume locally manufactured goods?

Make them de play.

[Rruchi man]

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Is this even a legal move of our government or they're just trying to bully binance? With the news of their P2P already down on binance, it has already sent many users out of the platform and by the close of today many more people would leave binance and move to other exchanges where they can still trade their Bitcoin for naira.

If Binance bends to the government and submit a list of its users, it will further reduce the trust that other people in other countries who use their services have for the company. They will loose many customers.

[Charles-Tim]

Is this even a legal move of our government or they're just trying to bully binance?

It is not appropriate at all is all I think about it. They flew to the country immediately Nigeria Binance users were blocked to access the exchange on the web. They flew to Nigeria it discuss with the government and regulators. But what they could do to them is to detain them.

With the news of their P2P already down on binance, it has already sent many users out of the platform and by the close of today many more people would leave binance and move to other exchanges where they can still trade their Bitcoin for naira.

Even if all centralized exchanges are banned, people will move to decentralized exchanges.

If Binance bends to the government and submit a list of its users, it will further reduce the trust that other people in other countries who use their services have for the company. They will loose many customers.

Yes. But we all know that ones your personal identities are submitted on exchanges, no privacy. This is one of the disadvantages of using centralized exchanges.

[Su-asa]

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Is this even a legal move of our government or they're just trying to bully binance? With the news of their P2P already down on binance, it has already sent many users out of the platform and by the close of today many more people would leave binance and move to other exchanges where they can still trade their Bitcoin for naira.

If Binance bends to the government and submit a list of its users, it will further reduce the trust that other people in other countries who use their services have for the company. They will loose many customers.

This is frustrating because it affects both we the users and the binance exchange it selfs, the government are not helping this our economy with their so called regime. Crypto is not in any way spoiling our economy but the government are the ones making sure to frustrating crypto users. However for those that doesn't find it difficult to sell their coins on binance I think there is another method you can use to sell your coins ASAP, but before you sell your coins you must first of all swap your BTC to USDT and send it through fiat.

[Rruchi man]

With the news of their P2P already down on binance, it has already sent many users out of the platform and by the close of today many more people would leave binance and move to other exchanges where they can still trade their Bitcoin for naira.

Even if all centralized exchanges are banned, people will move to decentralized exchanges.

This is what I strongly believe, we will always find a way.

[Majestic-milf]

 If you know you are going to begin snooping into the affairs of Binance, why give them the go ahead to operate here? It's attitude like this that makes us believe that our government have run-out of ideas to push the country forward and are looking for various means to shift the blame because why will you ask for the personal details of the users if not for you to be monitoring the accounts to at least maintain a semblance of control? Naija no go ever change no be lie because we get other things wey dey bother us but we govt choose to enter Binance like say that nai be the real cause of the hardship.
 

[Richbased]

Already when the ban placed on cryptocurrency was lifted I saw it as a strategy that the government want to use to fish out people who are into cryptocurrencies in the country and this clampdown on binance and arresting binance officials is not the best way to fight naira depreciation but however, this is the more reason why we have always been advised not to store our coins in exchanges because of developments of this nature or the exchange being hacked by some unfortunate hackers.

I think with this recent development on binance by the Nigerian government would make a lot of individuals in the country who have been storing their coins in an exchange to make a u-turn and start making use of non-custodial wallets like electrum and others for the safety and security of their assets.

[Asiska02]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

I can’t wait to see how this matter will turn out to be. Is it binance that is the cause of Nigeria economy downfall?
Or the government trying to leverage on them for the citizens to think they’re on top of the matter with top gear? Whatever the matter is, we shall wait to see the end of this drama.

 At some point, if the binance is actually the problem causing the economy hardship to the country which the government claimed that the exchange is used by Nigerians to set their foreign exchange rates by themselves thereby disrupting the effort made by the government to make the economy stable for its citizens, they should clamp on them.

If dollar is the issue, can’t we take the dollar away and not make use of it as our primary currency for foreign exchanges? Is it that hard to do. Other countries that don’t use them are doing fine. Do our leaders even know the cause of the problem we are facing in the country now at all? If the Naira doesn’t appreciate against dollar in some weeks time, that is when they will know that it isn’t the p2p operators on binance that are the main problem to the economy but bigger players than that are the ones making it hard for the economy to thrive.

Will disclosing the identities of Nigerians using binance make the economy stable? If Yes, let them do it and see the government officials that are also holding cryptocurrencies in their wallets, as long as we have not involved in anything illegal while using it.

[Davidvictorson]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

Charles see eh, this matter go long. I tell you. From what I am reading on the internet not from official source though, dem talk say the FG dey accuse Binance based on the following -

• Money laundering - FG talk say Nigerians dey pass billions of dollars through the app.
• Tax evasion
• Terrorism and organized crime financing

And as e be now, Binance fit release users data to FG like this. Binance fit comply with FG to release user data based on their Government Law Enforcement Request System wey require them to to submit information requests. In the case of money laundering allegation, dem fir pay big fine just as dem pay for US last year. Remember say for November 2023, dem Crypto admits to money laundering and dem come pay $4.3bn.

The worse wey fit happen be say FG go tell them to close shop.

We sidon dey observe.

[GiftedMAN]

If you know you are going to begin snooping into the affairs of Binance, why give them the go ahead to operate here? It's attitude like this that makes us believe that our government have run-out of ideas to push the country forward and are looking for various means to shift the blame because why will you ask for the personal details of the users if not for you to be monitoring the accounts to at least maintain a semblance of control? Naija no go ever change no be lie because we get other things wey dey bother us but we govt choose to enter Binance like say that nai be the real cause of the hardship.
 

I have a different view concerning the interference of the Nigerian government into the affairs of binance maybe they want to use this opportunity to task them more since they believe binance has more number of people that are using it's exchange for P2P transactions or they believe that attacking binance will make people to stop using the app there by making the price of dollar to drop below 1500 Nigerian naira who knows. Secondly I think the government wants to start tracking the account details of finance users so that they can freeze their bank accounts since they believe that people who holds dollars in their accounts are the reason why the naira keeps going down while the price of the dollar keeps climbing.

[Mate2237]

This one na serious matter oh. Nigeria financial institutions are confused of where the problem is coming from so them dey accuse everyone wey they do well in the as their problem. Last three weeks federal government order the Nigerian Army to arrest black market dollar exchanging Aboki people. And chase out the remaining ones. And that made Peter Obi to come to the media to abuse the FG. And the harassment of those people will not provide any solution to the inflation in the country.

The government is saying that it is because Binance is not regulated by the government so anyone can just wake up and increase their prices of buying and selling of cryptocurrency and that made the dollar to rise so they are investigating the matter now.

[Obim34]

This one na serious matter oh. Nigeria financial institutions are confused of where the problem is coming from so them dey accuse everyone wey they do well in the as their problem. Last three weeks federal government order the Nigerian Army to arrest black market dollar exchanging Aboki people. And chase out the remaining ones. And that made Peter Obi to come to the media to abuse the FG. And the harassment of those people will not provide any solution to the inflation in the country.

The government is saying that it is because Binance is not regulated by the government so anyone can just wake up and increase their prices of buying and selling of cryptocurrency and that made the dollar to rise so they are investigating the matter now.

What a country like Nigeria, I believe there are many more stories yet to unfold, this past few days I have heard alot and more are still yet to unfold. They have made their move for the betterment, right? Now we are left with no any choice than to just sit and observe if things will begin to change positively. Since the beginning of this matter, I know the government is heading somewhere, they just beating round the bush with time we will see their true intentions.

[Miles2006]

Onanuga will just be giving wrong narrative about binance, almost all the news I come across today it's either Onanuga will speak something negative like some Nigerians abused the transactions of foreign exchange, I believed all this negative comments triggered the current situation, if I may ask abuse in what way and I came across this fishy news about $26 billion passed through the crypto space from an unknown source. What's behind this is very big and we'll keep  hearing stories upon stories but still I don't  get the point when Onanuga said binance is standing as a sabotage to our economy, this statement is just too nonsense besides let's see how the economy will look like without binance since their focus is FX rate.

[DaNNy001]

This one na serious matter oh. Nigeria financial institutions are confused of where the problem is coming from so them dey accuse everyone wey they do well in the as their problem. Last three weeks federal government order the Nigerian Army to arrest black market dollar exchanging Aboki people. And chase out the remaining ones. And that made Peter Obi to come to the media to abuse the FG. And the harassment of those people will not provide any solution to the inflation in the country.

The government is saying that it is because Binance is not regulated by the government so anyone can just wake up and increase their prices of buying and selling of cryptocurrency and that made the dollar to rise so they are investigating the matter now.

What a country like Nigeria, I believe there are many more stories yet to unfold, this past few days I have heard alot and more are still yet to unfold. They have made their move for the betterment, right? Now we are left with no any choice than to just sit and observe if things will begin to change positively. Since the beginning of this matter, I know the government is heading somewhere, they just beating round the bush with time we will see their true intentions.

The truth is that, I think the burden of being the first administration ever to have risen the naira to almost 2k per dollar is really messing with this new administration and that's why they have decided to come out ranting and let the public know that they are actually working and finding solutions to the actual problems but the bitter truth is they don't actually have a clue to how these issue keeping coming and also on how to rectify them also.

[Adams0001]

This one na serious matter oh. Nigeria financial institutions are confused of where the problem is coming from so them dey accuse everyone wey they do well in the as their problem. Last three weeks federal government order the Nigerian Army to arrest black market dollar exchanging Aboki people. And chase out the remaining ones. And that made Peter Obi to come to the media to abuse the FG. And the harassment of those people will not provide any solution to the inflation in the country.

The government is saying that it is because Binance is not regulated by the government so anyone can just wake up and increase their prices of buying and selling of cryptocurrency and that made the dollar to rise so they are investigating the matter now.

No be small matter be this ooh, now dey think say na Binance dey make dollar raise like this why dey know talk about other exchange na binance dey put eyes for since na him popular pass, now waiting I never understand If dey blocked binance all the coin you have inside will be lose you won't get another way to access it, but I know they will later settle because even all this our big leader are doing trading online through exchange they won't allow they should bad it,  because he will affect them.

since FG done get access with binance they can get any task with them that is why dey decide to bad it, binance where we dey use dey buy coins to invest na him dey on bad for us, why this our government dey do like this, Work no dey country now if you no get any long hand that will help you out you will never get, and we decide to learn about cryptocurrency and we start to get profit with our investment money, and now dey on bad binance where person dey use swap coin and another things am just praying dey should settle each other soon.

[CryptopreneurBrainboss]

Charles see eh, this matter go long. I tell you. From what I am reading on the internet not from official source though, dem talk say the FG dey accuse Binance based on the following -

If this rumours na true then the Nigeria FG wan just cashout from Binance because say US dun do their own. I been just know say after US successfully make Binance pay fine for the allegations wey dem been give them say other countries go begin dey try their luck and Nigeria no dey carry last so I no suprise to see all this rumours flying around although I go wait first for the FG to come out come talk am demselfs before I go believe wetin you dey talk so. Na the disadvantage of a centralized system be this. Binance need to do anything wey the governments wants or dem go lose the money wey dey Nigeria as alot of crypto traders full their exchange from the country.

They're willing to sacrificed P2P trading volumes than to lose everything, exchanges are only for business so make we no dey think say dem get our best interest. But sha nothing come out for this demand wey FG dey ask about. Wetin dem go use the names do unless dem get their own agenda and get specific people wey dem dey target because I no see any point for this whole discussion.

Tinubu just dey fall my hands self, I thought he was better than all this but I believe say an frustration and cluelessness dey do the man. Him governments never even reach anywhere things dun dey scatter. Make him better bring good policy wey go help the country economy and leave all this ones wey him dey do so as dem be temporary solution and not everlasting stop to the deprecation of the Naira.

[Obim34]

This one na serious matter oh. Nigeria financial institutions are confused of where the problem is coming from so them dey accuse everyone wey they do well in the as their problem. Last three weeks federal government order the Nigerian Army to arrest black market dollar exchanging Aboki people. And chase out the remaining ones. And that made Peter Obi to come to the media to abuse the FG. And the harassment of those people will not provide any solution to the inflation in the country.

The government is saying that it is because Binance is not regulated by the government so anyone can just wake up and increase their prices of buying and selling of cryptocurrency and that made the dollar to rise so they are investigating the matter now.

What a country like Nigeria, I believe there are many more stories yet to unfold, this past few days I have heard alot and more are still yet to unfold. They have made their move for the betterment, right? Now we are left with no any choice than to just sit and observe if things will begin to change positively. Since the beginning of this matter, I know the government is heading somewhere, they just beating round the bush with time we will see their true intentions.

The truth is that, I think the burden of being the first administration ever to have risen the naira to almost 2k per dollar is really messing with this new administration and that's why they have decided to come out ranting and let the public know that they are actually working and finding solutions to the actual problems but the bitter truth is they don't actually have a clue to how these issue keeping coming and also on how to rectify them also.

What a messed administration, can't believe if they are truly doing this with clear conscience of solving this problems without having personal intentions to gain from it. This government has a very good understanding of everything going on, trust me when I say Nigerian government are fully aware of the demanded solution but in one way trying to aswell play things out on their favor.

[7juju]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Has there been any official announcement from Binance verified account stating that their officials were arrested by the Nigerian government? I read something online yesterday, one of the government spoke person said that they didn't arrest Binance official as speculated, rather they are in serious discussion with Binance to proffer solution to the situation on ground. Since Binance has not made any official announcement that their officials were arrested by the federal government, let's not draw a conclusion to this matter.

[Gozie51]

This na the case of say Nigerian government don murder sleep and pikin wey say im mama no go sleep, the pikin too no go sleep, na as simple as that. The thing go be like rat race and they will make other exchange to dey popular for naija until we finally begin patronize decentralised exchange because some guys don already dey settle with P2P arbitrage trading and dem sabi how much cool cash wey dem dey make from am, so dem no go just relax and fold their hands and watch government chase dem out of business wey be say na even online.

It is not funny as government dey chase shadow by witchhunting her people because of their very bad policies, make dem fix country dem say no.

Anyway, we go still know if dem truly detail binance guys because me I don't think they have such right to do so. Those guys come for discussion to see how the Nigerian situation can be supported. Nigerian government no get any right to hold dem back at least they were not in the wanted list so no basis for arresting them whatsoever.

However, my advise be say since the app is still on people wey get coin for binance fit rescue some out until we see the face of this matter to avoid stories that touch the heart.

[Zigabel]

Asides the fact that they are doing this show of cluelessness in the name of trying to fix the economy by trying to fish out the saboteur of the economy, they are also doing the bid of the task master who did mentioned at one of his campaign that they are going to make sure to task every and any sector and bring it all to the federal government, just recently he also stated in a federal university convocation where he was supposed to be a guest but rather was represented, he's representative did mentioned that the federal government is advising the school task every sector and increase their IGR to sustain the school so invariably he was trying to make them understand the federal government may be intending the schools take care of the running of the school to a very great extent, this shows how messy this government is and it's very sad they aren't improving any sector of the economy by channeling all that's been generated from all the tasking.

This administration continually shows how clueless and incapable they are about handling the national affairs but then lets wait and hop to get an official statement from the federal government on their intentions behind the Binance rift they have created recently.

[EluguHcman]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Our federal government has always wanted to be in control of what would benefit the masses in this country. It is obvious that they are bleeding in the heart with the fact that they can't control the crypto currencies that is why why are growing so mad at it.
A government that nothing goes for nothing? That are just trying a find a way of how they can control the crypto investors in this country so that they could be charged for taxes and nothing else.

So the arrest of these Binance exchange executives is they way forward of fighting the devalued currency and the fallen economy out? Or once they succeeds in their agreements with the Binance exchange via those who trades the dollar for naira the downwards of the economy would be normalized?
Now, what has Bitcoin Investment get to do with a Forex trading that is specifically for funds trades?
Are we really safe?

Once upon a time a fallen government is architecting excuses for their failures.

[teamsherry]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

What exactly does the government want to use a list of users for, do they plan on picking us out too, that's why I hate anything centralized they take too much information that can end up implicating users, they have our nin number, bvn number and even our full names and house address, if this was to be a case that the government would want to get stupid, many person's would be caught up in their stupidity.

And what's the need of detaining the binance executives
Is that even legal in any way ?

[Davidvictorson]

Charles see eh, this matter go long. I tell you. From what I am reading on the internet not from official source though, dem talk say the FG dey accuse Binance based on the following -

If this rumours na true then the Nigeria FG wan just cashout from Binance because say US dun do their own. I been just know say after US successfully make Binance pay fine for the allegations wey dem been give them say other countries go begin dey try their luck and Nigeria no dey carry last so I no suprise to see all this rumours flying around although I go wait first for the FG to come out come talk am demselfs before I go believe wetin you dey talk so. Na the disadvantage of a centralized system be this. Binance need to do anything wey the governments wants or dem go lose the money wey dey Nigeria as alot of crypto traders full their exchange from the country.

This our Nigeria is so confusing. E get report wey talk say FG don slam Binance with $10 billion as retribution¹. Dem talk say na the special adviser on information and strategy to our presido wey him name na Bayo Onanuga talk this one for one interview for BBC this morning wey be Friday. Another report from Binance Holdings Ltd come talk say weting Oga Bayo talk say na big lie. Dem talk say FG never make any demands like that and say dem nor dey ready to pay any money2.

The truth be say me nor fucking believe any of the two sides. Anything dem wan do make dem do. As Odumeje talk, I have many power(alternative exchange for P2P), Hunobi dey, Kucoin dey, ByBit dey.

FG and Binance fit go to hell.
1. https://www.premiumtimesng.com/business/business-news/673361-nigeria-govt-slams-10-billion-fine-on-binance.html
2. https://gazettengr.com/nigerian-govt-lied-no-discussion-about-10-billion-fines-we-wont-pay-ransom-or-damages-if-asked-binance/

[Cryptoprincess101]

So now if they get the data base of Nigerians using binance what will they now do? Begin searching for them or what?. It baffles me how a great country like Nigeria will be giving leadership opportunities to people that have no idea of how government should be runned and rather than bringing forth solutions that will solve the current economic problems they are still making an already devastated economy more worst. Honestly, this country is becoming a mockery by other nations.

 I came across a post in the politics and society session of this forum about a user questioning about the cause of the fall in value of the Nigerian currency, just imagine or is it only this country that is facing economic problems?

[Makus]

The only reason they are requesting for a list, to set up a mass arrest on those using the binance p2p, just as they did to the BDC. I believe they are taking this too far, and after all their actions, we Nigerians are the one to bear the consequences of their actions. If they're succeed with all the plans they have on ground, we won't be able to fully access p2p from any exchange because what they did to binance would make other exchange to cancel their p2p service, so it just a matter of time before other exchanges start closing up, I'm ashamed of this government.

[Kelward]

Last last Binance go succumb and dem go dance to di tunes of di Nigerian government, and dem go release all di names of people wey de do business through dem, na dat time witch-hunting go come start, both people wey get legit and money laundering account go come face di same music. E go de very bad if dem use dis Binance matter wey concern cryptocurrency take de cover for di mess wey naira de now, so people focus go comot for di real decay wey di economy de face now.

Dis one na anoda testament say make we no de leave our coins for centralized exchanges, if no be hack, e go be inside scam or government interference.

[Y3shot]

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Is this even a legal move of our government or they're just trying to bully binance? With the news of their P2P already down on binance, it has already sent many users out of the platform and by the close of today many more people would leave binance and move to other exchanges where they can still trade their Bitcoin for naira.

If Binance bends to the government and submit a list of its users, it will further reduce the trust that other people in other countries who use their services have for the company. They will loose many customers.

This our government are very funny,  so if binance should give them the names of Nigerians that have been trading with the exchange what will they do? I'm so disappointed,  this is not what the government is supposed to be doing. Their well known politicians that have Been stealing goverment funds, this are the people that the government are supposed to go after and not all this things they are doing.  Their are many things for them to do.

[Jaycoinz]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Has there been any official announcement from Binance verified account stating that their officials were arrested by the Nigerian government? I read something online yesterday, one of the government spoke person said that they didn't arrest Binance official as speculated, rather they are in serious discussion with Binance to proffer solution to the situation on ground. Since Binance has not made any official announcement that their officials were arrested by the federal government, let's not draw a conclusion to this matter.

Well me I no fit how this matter dey true but I believe say since wey the matter dey trend for social media no Nigerian official has come to deny that the actions isn't actually true and beside na almost all the news platform carry am and till date the matter is still dey pend as even binance themselves say dem dey try look into the matter but no be about seize staffs but na on the issue of trying to restore their platform with the full service that it's supposed to have and I just hope they get it soon.

[Charles-Tim]

Binance execs detained in Nigerian capital despite country exit

Tigran Gambaryan, a former cryptocurrency-focused United States federal agent, and a second Binance executive, Nadeem Anjarwalla, have been held in Abuja without passports for two weeks and not yet released from detention.

https://cointelegraph.com/news/binance-tigran-gambaryan-detained-nigeria

We Nigerians know that they have not been released. I do not know why Nigeria government are acting like this. The Binance executives came to negotiate with the regulators but instead, they were detained till now ans not yet released.

I think the government are up to something.

[Cryptomultiplier]

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Is this even a legal move of our government or they're just trying to bully binance? With the news of their P2P already down on binance, it has already sent many users out of the platform and by the close of today many more people would leave binance and move to other exchanges where they can still trade their Bitcoin for naira.

If Binance bends to the government and submit a list of its users, it will further reduce the trust that other people in other countries who use their services have for the company. They will loose many customers.

This our government are very funny,  so if binance should give them the names of Nigerians that have been trading with the exchange what will they do? I'm so disappointed,  this is not what the government is supposed to be doing. Their well known politicians that have Been stealing goverment funds, this are the people that the government are supposed to go after and not all this things they are doing.  Their are many things for them to do.

Am very sure that before the government is asking for the list of Binance users in the country, it may have information on some particular users that may have used the exchange to launder funds that are ill gotten or used in sponsorship of terrorism in the country. It could also be that they just want to actually know if they can at any time demand the list like a manifest, thereby revoking the ability of anonymity that decentralization has offered so far.
All is just to gain power over cryptocurrency and thus, over those citizens who don't rely on office jobs or a business location/shop/address to survive in this country.

They will collect the compensation and other fines Binance has got to pay and if I know my country well, Binance and perhaps other exchanges will keep operating but on new terms.  

[Nwada001]

I think the government are up to something.

Even if the government is up to something, they should not do things up to this level. They have no right to detain these guys because there is no offence that they have personally committed; they were the ones who invited them for peace talks, not for them to be arrested and detained here.
 
And even for them to move the case over for proper investigation and prosecution, they are still delaying, denying those guys their civil rights.

Even when visitors from the Department of Justice in the US visited, the Nigerian representative did not give them any privacy, which is equally not how things are being done.
 
I just hope they know what they are doing, and this might not just be a case between Binance and the Nigerian government, as Tigran Gambaryan was or is still currently a United States federal agent, so anything about him will also concern the state.

[Charles-Tim]

Nigeria presses Binance for user data on 100 top local users

The $10 billion might later be demanded from Binance. Also that Nigeria government wants Binance to give them the lists of top 100 Nigerian users. Also that they have requested Binance to pass the transaction history of the top 10 users for the past six months

https://cointelegraph.com/news/nigeria-pushes-binance-100-top-user-data

[Makus]

Nigeria presses Binance for user data on 100 top local users

The $10 billion might later be demanded from Binance. Also that Nigeria government wants Binance to give them the lists of top 100 Nigerian users. Also that they have requested Binance to pass the transaction history of the top 10 users for the past six months

https://cointelegraph.com/news/nigeria-pushes-binance-100-top-user-data

I no come dey understand this feed matter again oo, shabi na our law board naim come outside say this our actions no nice and e dey send mixed signals to the international. But seeing this one again, I no come understand, though na probability say Dem fit charge binance with the $10 billion. But that kind thing no nice at all. Then this list of users wey Dem wan still take, that na another problem, my question na wattin Dem wan use am do? Abi Dem wan still arrest the users like as them do to some BDC agents?

[Charles-Tim]

I no come dey understand this feed matter again oo, shabi na our law board naim come outside say this our actions no nice and e dey send mixed signals to the international. But seeing this one again, I no come understand, though na probability say Dem fit charge binance with the $10 billion. But that kind thing no nice at all. Then this list of users wey Dem wan still take, that na another problem, my question na wattin Dem wan use am do? Abi Dem wan still arrest the users like as them do to some BDC agents?

The house of rep opinion can be different from the executive arm and also from the regulators. We should not just talk about that for now. There would be a reason Nigeria government are detaining those Binance officials and there is possibility of asking for fine. Let us wait and see them in action. But, yes, that is not wrong at all, what the government are doing is not right. Leave the executives alone and go for lawsuit.

[Amphenomenon]

Nigeria presses Binance for user data on 100 top local users

The $10 billion might later be demanded from Binance. Also that Nigeria government wants Binance to give them the lists of top 100 Nigerian users. Also that they have requested Binance to pass the transaction history of the top 10 users for the past six months

https://cointelegraph.com/news/nigeria-pushes-binance-100-top-user-data

To be frank if this is through a legal means then binance may have no other choice than to review it to them but reading the news I didn't see anything like they having banking from SEC and it's disappointing that the 2 binance executives are still detained, I thought they would have released them after mass critics. 

To be honest I wonder how true are the other charges against binance aside the tax liabilities that would warrant $10 billion fine and till now Binance hasn't spoken to the public about it which makes the entire situation here weird.

[Charles-Tim]

To be frank if this is through a legal means then binance may have no other choice than to review it to them but reading the news I didn't see anything like they having banking from SEC and it's disappointing that the 2 binance executives are still detained, I thought they would have released them after mass critics. 

To be honest I wonder how true are the other charges against binance aside the tax liabilities that would warrant $10 billion fine and till now Binance hasn't spoken to the public about it which makes the entire situation here weird.

I saw this just now but I do not know how true it is, that Tinubu government will release Binance executives if Binance release the names of the top 100 users and their transactions in the last 6 months. I think this is more detailed than the previous one.

Tinubu demanded names, transaction details of top 100 Binance users in Nigeria before release of detained executives: Report

Let us see what will am happen.

[sokani]

I just hope Nigeria government know wetin dem dey do and dis arrest dey in accordance with di law. First, dem send invitation to Binance, Binance send two representatives to come Nigeria, only for our government to come hold dem hostage. The Africa regional head get dual citizenship, him be Kenyan and UK citizen. The chief compliance officer na US citizen, so if Nigerian govt wan flex muscle, dem suppose know who dem suppose flex muscle with. Just last month, Federal high court order NIS to pay a German national $10,000 for illegal detention. After dem don mumu finish, no one will be held responsible for this illegal arrest, and na still govt go pay di fine.

[Amphenomenon]

To be frank if this is through a legal means then binance may have no other choice than to review it to them but reading the news I didn't see anything like they having banking from SEC and it's disappointing that the 2 binance executives are still detained, I thought they would have released them after mass critics. 

To be honest I wonder how true are the other charges against binance aside the tax liabilities that would warrant $10 billion fine and till now Binance hasn't spoken to the public about it which makes the entire situation here weird.

I saw this just now but I do not know how true it is, that Tinubu government will release Binance executives if Binance release the names of the top 100 users and their transactions in the last 6 months. I think this is more detailed than the previous one.

Tinubu demanded names, transaction details of top 100 Binance users in Nigeria before release of detained executives: Report

Let us see what will am happen.

I don't really know how true is this because there be atom of truth after how things are moving about the $10 billion fine.

Binance has finally spoken out about the recent news regarding to our government claims
Binance said, Complying to rules and regulations set in countries were they operate is a top priority. They said they engage proactively with regulators and law enforcement whenever they can to contribute insight, intelligence, or expertise to help protect users, identify and prosecute criminals or stop or prevent unlawful activity.

Binance acknowledge the fast growth of crypto currency adoption in Nigeria and the trust many Nigerians as for them but also spoke that we are not yet among their top markets, though they  also believe we have extraordinary potential and hope to continue to invest here.


Base on their report below, they have been helping the Nigerian law enforcement in finding criminals and training.

Information Requests and Training Sessions
Binance has a policy of cooperation and compliance with all lawful information requests and legal inquiries from government, local regulatory, and law enforcement authorities pertaining to investigations, prosecutions, and forfeiture actions.

Between June 2020 and February 2024, Binance’s financial crime compliance (FCC) teams responded to 626 information requests coming from Nigerian law enforcement agencies or related to investigations pertinent to Nigeria, with an average of 37.4 hours between submission and resolution. The information we provided helped a vast range of agencies, such as the Nigeria Police Force, the Economic and Financial Crimes Commission (EFCC), and INTERPOL Nigeria to tackle crimes ranging from scams and fraud to money laundering, blackmail, kidnapping, and extortion. In one high-profile action that took place in January 2022, we restricted 281 accounts belonging to Nigerian residents due to money laundering concerns and extensively collaborated with the authorities to protect users from illicit activity.

In recent months, Binance’s team has visited Nigeria twice  in November and December 2023. Our Law Enforcement Training team delivered two full-day sessions to EFCC officials in Abuja and Lagos, with more than 30 investigators attending each of them. The training focused on practical aspects of cryptocurrency investigations: following the money on the blockchain using both public and commercial tracing tools. We provided training for Nigerian crime fighters on the role of exchanges in the digital-asset ecosystem and gave a comprehensive overview of Binance’s operations. We also introduced several case studies, including those featuring Nigerian suspects. Both sessions received overwhelmingly positive feedback from Nigerian investigators, who expressed strong interest in continuing this format of cooperation.

In August 2023, we also delivered a three-hour online workshop for 70 EFCC officials, focusing on the interpretation of Binance’s operational responses and the most effective ways of leveraging the assistance we can provide.

Furthermore, we have been cooperating with the Nigerian Financial Intelligence Unit, holding two meetings and discussing a memorandum of understanding focused on continuous training initiatives and operational cooperation, and held talks with the Nigeria Police Force about organizing a similar training session.

These trainings and sessions are unprecedented within the cryptocurrency industry. There is no other exchange that has committed to such close proactive cooperation with law enforcement and delivering relevant, practical education to their employees.

They also acknowledge the prosperity of fintech in Nigeria

Sourcehttps://www.binance.com/en/support/announcement/notice-of-removal-of-spot-trading-pairs-2024-03-15-dd8b8a2c4d2f4616ae5b927b51d31730

If only our government can be sensible now to regulate these exchanges and enjoy Tax from them, things would be better for us all especially our economy and attracting foreign investors to US.
Also with their claim I guess if they can come to an agreement with our government things will be running fine again

Ps: I was thinking of creating a new thread for this but since there are so many binance thread, I just opt for this though hope this topic fit this thread?

[odunybiz]

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Is this even a legal move of our government or they're just trying to bully binance? With the news of their P2P already down on binance, it has already sent many users out of the platform and by the close of today many more people would leave binance and move to other exchanges where they can still trade their Bitcoin for naira.

If Binance bends to the government and submit a list of its users, it will further reduce the trust that other people in other countries who use their services have for the company. They will loose many customers.

This is frustrating because it affects both we the users and the binance exchange it selfs, the government are not helping this our economy with their so called regime. Crypto is not in any way spoiling our economy but the government are the ones making sure to frustrating crypto users. However for those that doesn't find it difficult to sell their coins on binance

The most irritating aspect of this is for them to demand for the names of binance users within the country. This our government just wish to frustrate youths with this their plans. Nevertheless, I know we will always be ahead of them.

I think there is another method you can use to sell your coins ASAP, but before you sell your coins you must first of all swap your BTC to USDT and send it through fiat.

Is this method on the same binance? It isn't well explained. Can you please made a more explanatory reply on this. It may rely help someone.

[Mate2237]

There is very big argument on ground now that, federal government is asking Binance to give the top 100 Binance users and they the federal government will release the arrest Binance staff and right now Nigeria Government is not talking amount the #10 billion naira fine that they asked Binance before again and all their focus right now is the Nigerians that are using Binance. So if you are still using Binance, you better go and remove your account details from the exchange because the pressure Nigerian government is giving to Binance to give them users is very high. And that has been on the discussion for some days now. And that is the only condition for the release of the Binance staff.

And Binance told the government of America and UK that their citizens will go back to their country safety.

[cabron]

There is very big argument on ground now that, federal government is asking Binance to give the top 100 Binance users and they the federal government will release the arrest Binance staff and right now Nigeria Government is not talking amount the #10 billion naira fine that they asked Binance before again and all their focus right now is the Nigerians that are using Binance. So if you are still using Binance, you better go and remove your account details from the exchange because the pressure Nigerian government is giving to Binance to give them users is very high. And that has been on the discussion for some days now. And that is the only condition for the release of the Binance staff.

And Binance told the government of America and UK that their citizens will go back to their country safety.

So this is like a hostage situation where the Nigerian government is asking $10B for their dispute. The government accused them of devaluing the naira for an illicit flow of funds because of the p2p. As I've read, the Binance executives were brought to a guesthouse after meeting the Nigerian officials, and their security agency guards this house. To which their phones and passports were taken from them.

They have been there for 2 weeks now, I'm sure this has to do with their negotiations.

[Y3shot]

Why ate goverment not demanding for the list of past and present leaders that have stole good amount of public funds. Their are some politicians that are stealing goverment funds are walking freely and the goverment have not come out to say anything about them. Goverment needs to work and forget about binance, because all this will not help them. They should look for a better way how To make things better for them.

[Charles-Tim]

Tinubu’s government seeks fresh court order to keep Binance officials in detention

President Bola Ahmed Tinubu’s government has approached an Abuja magistrates’ court for an order to extend the detention of two Binance officials, Tigran Gambaryan, a U.S. citizen, and British-Kenyan Nadeem Anjarwalla. After the expiration of the first court order to detain the duo on Tuesday, “Economic Financial Crimes Commission has asked a chief magistrates’ court in Abuja to extend their (Mr Gambaryan and Mr Anjarwalla) detention while investigations continue,” Reuters reported on Thursday citing sources familiar with the case.

Copied from https://www.intelregion.com/news/tinubus-government-seeks-fresh-court-order-to-keep-binance-officials-in-detention/

[Fivestar4everMVP]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Sorry but this is a half baked cake, and we all know how a half baked cake thirst, but this is bygone anyway.

The Federal government, actually tinubu himself is the one who demanded to see the top 100 Nigerian users of Binance, and their transactions, the government did not ask to see the entire list of Nigerian Binance users...
So, if you are a Binance user, there is absolutely no need to start panicking, except you are a billionaire and you use Binance p2p frequently before the feature was taken down, because I am very certain that the top 100 Nigerian users of Binance p2p were billionaires and still are.

I think tinubu is just over doing himself, and I honestly do not blame him, people I blame are those advising him, for I am sure that tinubu himself knows nothing about crypto currencies or how it all works before this whole saga started.

But all the same, it's just a matter of time and all this will die as usually, and we all won't even remember things like this happened.

[SmartGold01]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

But wait a bit what is their reason for demanding for binance to reveal their Nigerian users since from binance was launched till date, is this normal or do they want binance to pay homage or damage abi task since they started operation in Nigeria?
Because sometimes you go shock say Binance go still pay them money and if them pay we no go see am any place na only dem to sidephone the money share am among themselves because I believe say wetin dis government come do na to share and to finally finished the country.

[Charles-Tim]

Chambers of Digital Commerce said Binance officials detention is unlawful and demand response of the United States president

We know this will definitely lead to what is happening now. See what Chambers of Digital Commerce said about Nigeria detention of Binance officials which I definitely know that one of the two or both of them are US citizens:

This incident demands a robust response from the United States. We call upon President Biden and the U.S. government to employ every diplomatic measure to ensure Mr. Gambaryan’s immediate release. The unwarranted detention of Tigran Gambaryan is more than a legal issue; it is a matter of national dignity and the protection of American citizens worldwide. We stand in solidarity with Mr. Gambaryan and his family during this trying time and urge swift action to rectify this grave injustice.

To read about it, you can click on this link:
https://digitalchamber.org/urgent-call-to-action-american-citizen-and-crypto-sector-worker-kidnapped-by-nigerian-government/

[Gozie51]

Baba Tinubu don dey take style dey near fire wey go burn am soon. Sometimes I go dey think say if those two binance guys na nigerians with the way wey naija government take carry moral still hold them and still dey seek for extension of their detention. Them say na fly wey no dey hear word dey follow dead body enter grave.

Him don dey pass boundary. It is okay to make your investigation and leave the workers to go and then if him get something wey him find out against binance then him make it formal through the court and not to dey do dem as if dey are common criminals without no right like as dem dey take treat poor Nigerians.

We still dey watch as things dey unfold with this Naira exchange rate, na so dem close aboki FX, now binance while dem dey pack dollar wey pack suppose dey sell put for their save or sell them give BDC people, how the exchange rate no go high.

[Charles-Tim]

Court orders Binance to release data of Nigerian users to EFCC

A Federal High Court in Abuja has ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission with comprehensive information on all persons from Nigeria trading on its platform.

The court handed down the order in an ex-parte motion filed by the EFCC demanding information about Nigerians trading on Binance.

Copied from https://punchng.com/court-orders-binance-to-release-data-of-nigerian-users-to-efcc/

[Makus]

Court orders Binance to release data of Nigerian users to EFCC

A Federal High Court in Abuja has ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission with comprehensive information on all persons from Nigeria trading on its platform.

The court handed down the order in an ex-parte motion filed by the EFCC demanding information about Nigerians trading on Binance.

Copied from https://punchng.com/court-orders-binance-to-release-data-of-nigerian-users-to-efcc/

This one wey EFCC don enter the matter e mean say, Dem wan really arrest those users, e don dey really clear now say na their intentions be that. But my problem with this issue na besay, them don already succeed disable their fiat from binance so wattin Dem wan still use the name of those p2p traders do. Abi them dey plan to task them? Or place fine for their head? But one thing dey sure, as far as say them dey this desperate to collect those name e just mean say them wan either arrest them like the BDC and then, fine Dem.

[Dailyscript]

There is very big argument on ground now that, federal government is asking Binance to give the top 100 Binance users and they the federal government will release the arrest Binance staff and right now Nigeria Government is not talking amount the #10 billion naira fine that they asked Binance before again and all their focus right now is the Nigerians that are using Binance. So if you are still using Binance, you better go and remove your account details from the exchange because the pressure Nigerian government is giving to Binance to give them users is very high. And that has been on the discussion for some days now. And that is the only condition for the release of the Binance staff.

And Binance told the government of America and UK that their citizens will go back to their country safety.

So this is like a hostage situation where the Nigerian government is asking $10B for their dispute. The government accused them of devaluing the naira for an illicit flow of funds because of the p2p. As I've read, the Binance executives were brought to a guesthouse after meeting the Nigerian officials, and their security agency guards this house. To which their phones and passports were taken from them.

They have been there for 2 weeks now, I'm sure this has to do with their negotiations.

Seriously, the Nigerian government is demanding $10B for what? This is so crazy. The government is fucking criminals; they are busy doing all this to extort money from Binance. After increasing the amount of money for a local exchange to start up their business. They still want huge amounts of money from the exchange for the damage they themselves caused.

No doubt there is a conspiracy here, and I am beginning to suspect those Binance officials to be helping the government. Obviously, they are receiving some of the best treatment in the custody of the government. I am not surprised that the government has given them beneficial options if the money comes out. Ah God this our country eh.

[Doan9269]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

All these are happening so that we may learn and know why we need to be away from the use of centralized exchanges, the government can regulate anything as they wish, but in this case, am not sure they have the jurisdiction of making demands for the list of kyc information's of all its traders, business isn't scared of the Nigerian government for anything, all we expect from them is just a strict non compliance to the request, they have to work on their own economy and not the binance business or platform, if they do so, are they still going to go round other platforms or exchanges demanding same.

[Charles-Tim]

This one wey EFCC don enter the matter e mean say, Dem wan really arrest those users, e don dey really clear now say na their intentions be that. But my problem with this issue na besay, them don already succeed disable their fiat from binance so wattin Dem wan still use the name of those p2p traders do. Abi them dey plan to task them? Or place fine for their head? But one thing dey sure, as far as say them dey this desperate to collect those name e just mean say them wan either arrest them like the BDC and then, fine Dem.

I do not know what there plans are but I know that it is not something good. This also shows how incompetent our leaders, regulators and other government officials are. They saw the way but prefer just to go the wrong road all because of something not useful but to carry out their useless investigation. Instead of the government to make it mandatory for Binance to have office in Nigeria and tax them as people that are using them, they just prefer what they have been doing that makes Nigeria not to have good economy. They have the power but they do not have the brain that can help this country to move forward.

[EL MOHA]

I do not know what there plans are but I know that it is not something good. This also shows how incompetent our leaders, regulators and other government officials are. They saw the way but prefer just to go the wrong road all because of something not useful but to carry out their useless investigation. Instead of the government to make it mandatory for Binance to have office in Nigeria and tax them as people that are using them, they just prefer what they have been doing that makes Nigeria not to have good economy. They have the power but they do not have the brain that can help this country to move forward.

Seriously I still find this awkward that the only thing Nigerian government can think of is actually just charging this binance entity to a ransom only. When I heard of bitcoin officials in Nigeria i thought they will use the opportunity to get a Nigerian base own binance entity like the binance.US, tax the corporation and also in future should they think of taxing the citizens in cryptocurrency they could get a handful of them through binance. But no they want a ridiculous amount for whatever reason.

It still baffles me that they think binance will allow them get access to customers details, if this leaks binance isn’t only going to lose customers in Nigeria but all over the world because every user will be aware that each country government can get the KYC of their children when they want.

[Bright0515]

I must admit Nigerian government are confused set of people. So what the hell do they want to do with Nigerians using binance or do they or are they trying to steal from this angle now there are better things to do and live these whole shit.

Anything wey Nigerian government put body no dey work out them wan come cast binance now instead of looking for a way forward to fix the bank issues we are facing in this country they still want to come and cast the one and reliable system of exchange we have now.

[Zanab247]

Court orders Binance to release data of Nigerian users to EFCC

A Federal High Court in Abuja has ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission with comprehensive information on all persons from Nigeria trading on its platform.

The court handed down the order in an ex-parte motion filed by the EFCC demanding information about Nigerians trading on Binance.

Copied from https://punchng.com/court-orders-binance-to-release-data-of-nigerian-users-to-efcc/

If binance owner is not careful with Nigeria government, they will make binance to pay some of huge amount of money before they will release his workers, I believe this court order will make binance owner to find solution to ensure the plan of the government will not work.

 I know that binance will never give the government the names of the Nigeria traders to the government because, they will take advantage of that to reduce all those traders to nothing in the country by using court order to collect the money from them.

[Coyster]

A Federal High Court in Abuja has ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission with comprehensive information on all persons from Nigeria trading on its platform.

Crazy to say the least, at this point e dey very clear say our government no even know wetin dem dey do nor do they even plan before dem take a particular direction. If dem get facts about some users wey dem believe say dey use Binance take launder money or to finance terrorism, then make dem approach Binance with details of their investigation and request for details about such users, but it is crazy to order Binance to give you the data of ALL Nigerian users whom have traded on their platform. I don't see any reason why Binance should honor this request.

[Igebotz]

Court orders Binance to release data of Nigerian users to EFCC

A Federal High Court in Abuja has ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission with comprehensive information on all persons from Nigeria trading on its platform.

The court handed down the order in an ex-parte motion filed by the EFCC demanding information about Nigerians trading on Binance.

Copied from https://punchng.com/court-orders-binance-to-release-data-of-nigerian-users-to-efcc/

The NG is looking for terrorism sponsors since they believe the most of the transactions took place on Binance. They already have suspects and full names, and they are expanding their investigation to Binance.

Honestly, if the identities of the suspects they have are found on the list they are demanding, Binance will be involved in another money laundering shit.

[AYOBA]

I don't even understand this our government's decision after he announced that it is going to ban binance, and the users are not to complain about that since the government tries to explain that binance is making the dollar rise, and that's why the cost of goods is increasing. But I didn't believe with his statement since not all marketers are deal with the dollar when it comes to purchasing their goods from retailers. I even wonder how the things be coming worsted, it is very obvious that Binance is not stable in low prices.

But I know that all these issues can most come to an end since one day the federal government will settle with the binance users, Even though the government was saying that it has given the federal high court Holder right to bring out the list of binance users, I don't think that can be possible.

[Obim34]

For some months now, the issue of Binance and our Nigerian government has been getting very heated, since the NGN got delisted from Binance we have been using a diverse means to trade.
As of yesterday, a decision was made by the High court towards Binance, ordering them to release comprehensive users data to the Authorities but it seems Binance are not yet giving in and would like to appeal. Is getting very heated now, if it finally ends and the court refuses taking back their order, do you think Binance would have to simply comply?

[EL MOHA]

For some months now, the issue of Binance and our Nigerian government has been getting very heated, since the NGN got delisted from Binance we have been using a diverse means to trade.
As of yesterday, a decision was made by the High court towards Binance, ordering them to release comprehensive users data to the Authorities but it seems Binance are not yet giving in and would like to appeal. Is getting very heated now, if it finally ends and the court refuses taking back their order, do you think Binance would have to simply comply?

The thing is binance wouldn’t comply but rather look for ways to reduce the damage that is by paying some fine that the government will ask of but definitely not the $10B. Other government like the US had in the past accused them of money laundering and CZ then took the hit of stepping down from his role and both him and the entity were fined and that’s it.

The reason why I don’t see them releasing the names is because it will look like a breach go right to their customers and they might lose there customers to that, not only In Nigeria but around the world. Many of their customers might see them as push overs by the government and any country can use it against them and we all know even though people submitted KYC they will still want it not to get to their government

[Charles-Tim]

The thing is binance wouldn’t comply but rather look for ways to reduce the damage that is by paying some fine that the government will ask of but definitely not the $10B. Other government like the US had in the past accused them of money laundering and CZ then took the hit of stepping down from his role and both him and the entity were fined and that’s it.

We do not know what will happen. As some people and organizations are seeking for United States intervention, it is possible that our government may still demand for lists of Nigeria Binance users. If the US government also agree to that, Binance will not have any other option if their officials are not released from detention.

The reason why I don’t see them releasing the names is because it will look like a breach go right to their customers and they might lose there customers to that, not only In Nigeria but around the world. Many of their customers might see them as push overs by the government and any country can use it against them and we all know even though people submitted KYC they will still want it not to get to their government

Exactly. But people should expect something like this if they go for KYC. KYC can be extremely dangerous.

[Mate2237]

The Headline I meant today

click the link below and see the full tori. Will Binance provide this information to the government and it agencies?

Court Orders Binance to Hand Over 'Comprehensive' User Data to Nigerian Authorities
The high court of Nigeria e don order Binance to comprehensively provide the users of it exchange to Economic and Financial Crime Commission (EFCC) with immediate effect. Now my question is why to the EFCC? According to the news, it is because of the price manipulation that EFCC is coming into the matter. Well if dem no use hunt any user of the exchange and it is pure for the reduction of the dollar and increase of naira fight then no problem.

The detained Binance officials were taken to high court today and the court extended the detaining to another two weeks. And names of these detainees are: Tigran Gambaryan from U.S and Nadeem Anjarwalla feom British. https://saharareporters.com/2024/03/21/detained-binance-executives-appear-nigerian-high-court-remain-detention-two-weeks

[Charles-Tim]

The Headline I meant today

click the link below and see the full tori. Will Binance provide this information to the government and it agencies?

Court Orders Binance to Hand Over 'Comprehensive' User Data to Nigerian Authorities
The high court of Nigeria e don order Binance to comprehensively provide the users of it exchange to Economic and Financial Crime Commission (EFCC) with immediate effect. Now my question is why to the EFCC? According to the news, it is because of the price manipulation that EFCC is coming into the matter. Well if dem no use hunt any user of the exchange and it is pure for the reduction of the dollar and increase of naira fight then no problem.

We have talked about this and you can read some replies after I posted it.

https://bitcointalk.org/index.php?topic=5487027.msg63824366#msg63824366

EFCC will use it to look for money laundering, terrorism financing and other illegal money transactions. That is the work of EFCC.

The detained Binance officials were taken to high court today and the court extended the detaining to another two weeks. And names of these detainees are: Tigran Gambaryan from U.S and Nadeem Anjarwalla feom British. https://saharareporters.com/2024/03/21/detained-binance-executives-appear-nigerian-high-court-remain-detention-two-weeks

They should just let us know that the detention is indefinite and not two weeks extension.

[Obari]

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

If Binance bends to the government and submit a list of its users, it will further reduce the trust that other people in other countries who use their services have for the company. They will loose many customers.

This is one of the major attacks I’ve seen on an exchange so far and I don’t know if the major reason is solely because of naira to dollar price speculations but I do think, the actions are harsh and I also agree with you that, if binance dares to submit to the demands of the federal government, then it will a major setback for them, not just in Nigeria but around the world as trust will be lost and other users from other countries might think that, their safety isn’t guaranteed and it will cause many users from around the world to refrain from using their platform which you’ll agree that’s a major setback for the company.

I really don’t know why Nigeria government are already fighting wrong battles , I think they need to sit up and do what’s right and not going after the wrong things and I think the supposed online price is already stabilizing with cbn price and it’s still not getting any better .

[Coyster]

The detained Binance officials were taken to high court today and the court extended the detaining to another two weeks. And names of these detainees are: Tigran Gambaryan from U.S and Nadeem Anjarwalla feom British. https://saharareporters.com/2024/03/21/detained-binance-executives-appear-nigerian-high-court-remain-detention-two-weeks

You do well to post this link, i actually thought that the detained Binance officials have been released from detention, but i was wrong as they are still being detained in Nigeria. Having said that, e be like say i sabi wetin our government wan do, they are holding this officials in a bid to "force" Binance to send them the names of all Nigerians trading in their platform and i think they would continue extending this detention period until they get that information.

Yesterday Naija been publish names of companies and people suspected to be sponsoring terrorism in Nigeria: https://www.legit.ng/business-economy/money/1584458-full-list-bureau-de-change-operators-named-sponsoring-terrorism-nigeria/
If the government believe such people launder money and fund terrorism using Binance, then these evidences should be presented to the exchange platform, and if these people have accounts on Binance, then further investigation and information can be gotten from there, but what i disagree with is a request of ALL Nigerian traders on their platform.

[Samlucky O]

Court orders Binance to release data of Nigerian users to EFCC

A Federal High Court in Abuja has ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission with comprehensive information on all persons from Nigeria trading on its platform.

The court handed down the order in an ex-parte motion filed by the EFCC demanding information about Nigerians trading on Binance.

Copied from https://punchng.com/court-orders-binance-to-release-data-of-nigerian-users-to-efcc/

This one wey EFCC don enter the matter e mean say, Dem wan really arrest those users, e don dey really clear now say na their intentions be that. But my problem with this issue na besay, them don already succeed disable their fiat from binance so wattin Dem wan still use the name of those p2p traders do. Abi them dey plan to task them? Or place fine for their head? But one thing dey sure, as far as say them dey this desperate to collect those name e just mean say them wan either arrest them like the BDC and then, fine Dem.

You really Sure say them wan arest and fine them. I no understand where this matter dey go because this people no get better plan. Getting the comprehensive list fit no be only to find the people wey do the huge transfer but e fit be say them wan know the total people wey dey into cryptocurrency so that dem fit come dey monitor people. Anybody wey dey do any big transaction, na EFCC go find you come house, by then no privacy again. Any small mistake them fit block bank account of everybody wey dey into cryptocurrency. Because the P2P no allow them know how transaction dey go for Nigerian bank.

My advice for us be say make any money we get, make we dey use am buy BTC or USDT come keep am for DEX wallet till this hole matter don finish. Because Even the one wey dey bank fit no dey safe because if them force these binance officials so Tay them come release this list, our bank account no ft dey safe.

[Coyster]

My advice for us be say make any money we get, make we dey use am buy BTC or USDT come keep am for DEX wallet till this hole matter don finish. Because Even the one wey dey bank fit no dey safe because if them force these binance officials so Tay them come release this list, our bank account no ft dey safe.

Even if this matter no sup ehn, person no suppose dey keep their crypto for centralized exchanges na, dem suppose keep am for non-custodial wallet. You dey correct when you talk say we no know wetin be their plan oh, and if dem get their hands on that list, dem fit do anything, from freezing bank accounts to making arrest, so no be only those wey dey make big transactions suppose fear, but everybody wey dey use Binance oh. This matter na proof of wetin Bitcointalk users don dey talk for a very long time and that is that KYC dey very very dangerous, as all Nigerian Binance and centralized exchanges users dey find out now.

[Igebotz]

The detained Binance officials were taken to high court today and the court extended the detaining to another two weeks. And names of these detainees are: Tigran Gambaryan from U.S and Nadeem Anjarwalla feom British. https://saharareporters.com/2024/03/21/detained-binance-executives-appear-nigerian-high-court-remain-detention-two-weeks

You do well to post this link, i actually thought that the detained Binance officials have been released from detention, but i was wrong as they are still being detained in Nigeria. Having said that, e be like say i sabi wetin our government wan do, they are holding this officials in a bid to "force" Binance to send them the names of all Nigerians trading in their platform and i think they would continue extending this detention period until they get that information.

Yesterday Naija been publish names of companies and people suspected to be sponsoring terrorism in Nigeria: https://www.legit.ng/business-economy/money/1584458-full-list-bureau-de-change-operators-named-sponsoring-terrorism-nigeria/
If the government believe such people launder money and fund terrorism using Binance, then these evidences should be presented to the exchange platform, and if these people have accounts on Binance, then further investigation and information can be gotten from there, but what i disagree with is a request of ALL Nigerian traders on their platform.

Their primary targets are the top traders and volume traded. I'm concerned about how they're handling the situation because I believe they'll start going after innocent and honest traders and arresting them for Naira manipulation, which is what Binance is attempting to avoid, but the Nigerian government is holding them by their balls hostage and using the illegally detained Binance executive as bail to get what they want.

I've removed my banking details from Binance p2p and I will advise everyone to do the same thing.

[Ever-young]

There is very big argument on ground now that, federal government is asking Binance to give the top 100 Binance users and they the federal government will release the arrest Binance staff and right now Nigeria Government is not talking amount the #10 billion naira fine that they asked Binance before again and all their focus right now is the Nigerians that are using Binance. So if you are still using Binance, you better go and remove your account details from the exchange because the pressure Nigerian government is giving to Binance to give them users is very high. And that has been on the discussion for some days now. And that is the only condition for the release of the Binance staff.

And Binance told the government of America and UK that their citizens will go back to their country safety.

i think the federal government is taking this whole Binance saga too far and this i believe is going to be really too much for Binance to bear. first it was Binance and accused of money laundry, second, it was CZ stepping down as CEO and now it's the Nigerian Federal government putting such an unnecessary pressure on Binance to either release the list of Nigerian users on the exchange or they wouldn't release their staffs. this is just too much for Binance. what i don't really get is what the government really plans to do with the list, because it seems all we're hearing so far are just different people's thoughts and assumption.

[Amphenomenon]

The reason why I don’t see them releasing the names is because it will look like a breach go right to their customers and they might lose there customers to that, not only In Nigeria but around the world. Many of their customers might see them as push overs by the government and any country can use it against them and we all know even though people submitted KYC they will still want it not to get to their government

Exactly. But people should expect something like this if they go for KYC. KYC can be extremely dangerous.

yes but under legal tender may be they might be able to get this, since they did the same to sinbad

but one thing for sure no business bodies who may have issues with Nigeria government will ever send their executives to Nigeria, it will be rare and I don't think binance will do the same in most countries especially those being in the same category as Nigeria with little or no world power.

I guessed the government knows that in keeping those executives detained is the only way binance may listen to them after acting stupidly in detaining them at first because now once those executives are released Binance will officially cut ties with Nigeria because of the fg request of the list of customers.

The thing is binance wouldn’t comply but rather look for ways to reduce the damage that is by paying some fine that the government will ask of but definitely not the $10B. Other government like the US had in the past accused them of money laundering and CZ then took the hit of stepping down from his role and both him and the entity were fined and that’s it.

We do not know what will happen. As some people and organizations are seeking for United States intervention, it is possible that our government may still demand for lists of Nigeria Binance users. If the US government also agree to that, Binance will not have any other option if their officials are not released from detention.

I guessed the main issue why Binance is not releasing the list is because of the $10B scam which I think the Nigeria government is after base on this https://bitcointalk.org/index.php, I believe Binance has given them names of criminals before and so won't have see any issues doing the same under legal means except from the fine.

Also I think the US might not support Binance after their past record and even current court cases with them

[Coyster]

I've removed my banking details from Binance p2p and I will advise everyone to do the same thing.

It could make sense to do this, but i don't think deleting it means you have completely deleted it from Binance's database. They are a centralized exchange, so definitely have all data stored somewhere and if they ever have to give it to the government, they would do that, even if you have deleted yours from your own account.

[philipabaku]

All these demands na just to make EFCC get better evidence to extort from the youths and federal government wan cripple any source of income Nigerians get. But Nigerians will always improvise that's what I love about us.

[Charles-Tim]

I've removed my banking details from Binance p2p and I will advise everyone to do the same thing.

It could make sense to do this, but i don't think deleting it means you have completely deleted it from Binance's database. They are a centralized exchange, so definitely have all data stored somewhere and if they ever have to give it to the government, they would do that, even if you have deleted yours from your own account.

You are correct. We should not believe in centralized platform even if it says no data is collected. According to Binance, about people's data retention, I found this:

11. How Long Does Binance Keep My Personal Data?

We keep your personal data to enable your continued use of Binance Services, for as long as it is required in order to fulfil the relevant purposes described in this Privacy Notice, and as may be required by law such as for tax and accounting purposes, compliance with Anti-Money Laundering laws, or to resolve disputes and/or legal claims or as otherwise communicated to you.

While retention requirements vary by jurisdiction, information about our typical retention periods for different aspects of your personal data are described below.

Personal Identifiable Data collected to comply with our legal obligations under financial or anti-money laundering laws may be retained after account closure for as long as is required under such laws.

Contact Information such as your name, email address and telephone number for marketing purposes is retained on an ongoing basis and until you (a) unsubscribe, or we (b) delete your account. Thereafter we will add your details to an unsubscribed list to ensure we do not inadvertently market to you.

Content that you post on our website such as support desk comments, photographs, videos, blog posts, and other content may be kept after you close your account for audit and crime prevention purposes.

Recording of voice calls with you may be kept for a period of up to six years, for audit/ compliance purposes and to resolve disputes and/or legal claims.

Information collected via cookies, web page counters and other analytics tools is kept for a period of up to one year from the date of the collection of the cookie of the relevant cookie.

Even if anything is deleted, we should know that Binance still have the information.

[sokani]

There is very big argument on ground now that, federal government is asking Binance to give the top 100 Binance users and they the federal government will release the arrest Binance staff and right now Nigeria Government is not talking amount the #10 billion naira fine that they asked Binance before again and all their focus right now is the Nigerians that are using Binance. So if you are still using Binance, you better go and remove your account details from the exchange because the pressure Nigerian government is giving to Binance to give them users is very high. And that has been on the discussion for some days now. And that is the only condition for the release of the Binance staff.

And Binance told the government of America and UK that their citizens will go back to their country safety.

The whole world dey watch Binance, how dem want take handle this saga with the Nigerian government, weda dem go give in to their demands or not. IMO, I think Binance no go surrender the list because if dem do so, dem go lose trust not just from Nigerians but from their customers worldwide, also e go give room for oda countries to bully dem.

I no want believe say Binance no dey do anything about the situation, dem dey fight. Just as Binance is pushed into a corner, naso Nigerian government self dey go dey feel heat small small because all eyes dey watch dem. The arrest dey illegal, dis persons in detention no be criminals and dem be US and UK citizens. So how long dem fit keep dem? I believe their embassies also dey fight for their release.

[Mate2237]

There is very big argument on ground now that, federal government is asking Binance to give the top 100 Binance users and they the federal government will release the arrest Binance staff and right now Nigeria Government is not talking amount the #10 billion naira fine that they asked Binance before again and all their focus right now is the Nigerians that are using Binance. So if you are still using Binance, you better go and remove your account details from the exchange because the pressure Nigerian government is giving to Binance to give them users is very high. And that has been on the discussion for some days now. And that is the only condition for the release of the Binance staff.

And Binance told the government of America and UK that their citizens will go back to their country safety.

The whole world dey watch Binance, how dem want take handle this saga with the Nigerian government, weda dem go give in to their demands or not. IMO, I think Binance no go surrender the list because if dem do so, dem go lose trust not just from Nigerians but from their customers worldwide, also e go give room for oda countries to bully dem.

I no want believe say Binance no dey do anything about the situation, dem dey fight. Just as Binance is pushed into a corner, naso Nigerian government self dey go dey feel heat small small because all eyes dey watch dem. The arrest dey illegal, dis persons in detention no be criminals and dem be US and UK citizens. So how long dem fit keep dem? I believe their embassies also dey fight for their release.

Oboy the matter shock Binance. But na dem fuck up they been take di ignorance of Nigerians as their advantages but government catch them. Even me sef dey vex for Binance for manipulating di exchange rate in di country but Nigeria government for use wisdom handle di case. Di problem was not mainly from Binance but their the government financial agencies were not active enough to do their work because if dem been dey do am well Binance for never and ever manipulate di exchange rate. Because it is the duty of the agencies to implement and monitor any suspicious movement in the exchange platforms but they were relaxing so Binance used di opportunity well.

If Nigeria government used wisdom Binance for generates plenty money for them through collection of tax from di exchange. Because people were using the exchange to do transaction.

[Benedictare]

    I hope say a lot of Naija wey dey d form dey always read dis topic everyday ,so that dem go no wetin dem go do next b4 kasala burst, we fit think sey this list no go come out or na for the big men dem , what if the other way round ,so make we dey at alart in case and make we tell our people to remove their bank details as oga Charles-Tim don talk am.
 
   But i wan ask oh,if you remove your details,e no go still dey for their system hardware? As we know say oyibo people sabi all these kind computer data storage pass us, because Court no gree  release dem oo,say dem must provide the list to EFCC na him make dem still dey detention for more 2 weeks.

[Charles-Tim]

JUST IN: NSA confirms Binance executive’s escape from custody

The Office of the National Security Adviser has confirmed that the detained Binance executive, Nadeem Anjarwalla, escaped from custody. It was reported that he escaped on Friday. It was said that preliminary investigation shows that Mr Anjarwalla fled Nigeria using a smuggled passport. ”

They are looking for a way to arrest him back. I guess federal government can not win this and likely he will make it to United States. Let us see how it goes.

You can read more about it here:
https://punchng.com/detained-binance-executive-escapes-from-custody/
https://punchng.com/nsa-confirms-binance-executives-escape-from-custody/

Or United States will arrest him so that he can be sent back to Nigeria? 

[Mate2237]

JUST IN: NSA confirms Binance executive’s escape from custody

The Office of the National Security Adviser has confirmed that the detained Binance executive, Nadeem Anjarwalla, escaped from custody. It was reported that he escaped on Friday.

You can read more about it here:
https://punchng.com/detained-binance-executive-escapes-from-custody/
https://punchng.com/nsa-confirms-binance-executives-escape-from-custody/

How na? Nawao Nigeria na really a crush scene oh. Na dat dis guy e don escape weti go happen to Di second guy? Di way I dey see this escape na plan work. Well we ni go fit confirm or tok anything about Di escape foe now but let's us be waiting to see weti go happen next. Dis I e now dem fit shutdown the whole exchange in Di country. I also saw Di news on my google chrome newsline and I was about to read it when I got your notification and I left there to come here.  Nigeria Government would have settled dis case with Binance amicably but they prefer dragging it without solution.

Now that one don escape, the second one sef go escape under the SEC watch. Pump and plain SEC don collect something na make dem get Di ododo to escape.

[Charles-Tim]

How na? Nawao Nigeria na really a crush scene oh. Na dat dis guy e don escape weti go happen to Di second guy? Di way I dey see this escape na plan work. Well we ni go fit confirm or tok anything about Di escape foe now but let's us be waiting to see weti go happen next. Dis I e now dem fit shutdown the whole exchange in Di country. I also saw Di news on my google chrome newsline and I was about to read it when I got your notification and I left there to come here.  Nigeria Government would have settled dis case with Binance amicably but they prefer dragging it without solution.

Now that one don escape, the second one sef go escape under the SEC watch. Pump and plain SEC don collect something na make dem get Di ododo to escape.

This has nothing to do with the SEC, but you are not wrong that there is insider work. Not only one person but some people among the them made the escape possible.

The second executive will be monitored more than before. I can not say if he can escape or not but it will be more difficult than the first. But I believe there is some plans that we do not know now. Let us see what will happen.

[Wiwo]

JUST IN: NSA confirms Binance executive’s escape from custody

The Office of the National Security Adviser has confirmed that the detained Binance executive, Nadeem Anjarwalla, escaped from custody. It was reported that he escaped on Friday. It was said that preliminary investigation shows that Mr Anjarwalla fled Nigeria using a smuggled passport. ”

They are looking for a way to arrest him back. I guess federal government can not win this and likely he will make it to United States. Let us see how it goes.

You can read more about it here:
https://punchng.com/detained-binance-executive-escapes-from-custody/
https://punchng.com/nsa-confirms-binance-executives-escape-from-custody/

Or United States will arrest him so that he can be sent back to Nigeria? 

Baba all this things na game plan,  I told you guys that at the end federal government will lose money because of the wrong approach they adopted in the case of the naira vs binance crisis,  most times the government always get it wrong when it comes to naira stabilisation,  and what we're they thinking that your president announced a free flow of the naira in the forex market will result into a positive outcome for the value of the currency this is wrong and baseless thoughts.

Just like the fuel subsidy thing also, this two things are affecting the country in the most negative ways, the economy is bleeding and corruption is at it highest rate.

Well the binance staff that escaped shows how weak the security system are, although the individual that escaped have some military training I think so, he is a former FBI agent if I am not mistaking.

Well so long as one of the staffs is still in custody, the government will still have some good hold, I read also that the federal revenue commission have fild a case of tax evasion against binance today I high court Abuja.

[sokani]

They are looking for a way to arrest him back. I guess federal government can not win this and likely he will make it to United States. Let us see how it goes.

You can read more about it here:
https://punchng.com/detained-binance-executive-escapes-from-custody/
https://punchng.com/nsa-confirms-binance-executives-escape-from-custody/

Or United States will arrest him so that he can be sent back to Nigeria? 

Why would the US arrest him and send him back to Nigeria? Dude lives in Kenya with his family and I think that's where he flew to and he's enjoying the reunion with his family. He doesn't need to stress himself running to US and even if he does go there, I don't think he'd be arrested.

Nigerian government should be more concerned about the mole inside the government because Nadeem Anjarwalla obviously had help from someone.

[Spaceman1000$]

JUST IN: NSA confirms Binance executive’s escape from custody

The Office of the National Security Adviser has confirmed that the detained Binance executive, Nadeem Anjarwalla, escaped from custody. It was reported that he escaped on Friday. It was said that preliminary investigation shows that Mr Anjarwalla fled Nigeria using a smuggled passport. ”

They are looking for a way to arrest him back. I guess federal government can not win this and likely he will make it to United States. Let us see how it goes.

You can read more about it here:
https://punchng.com/detained-binance-executive-escapes-from-custody/
https://punchng.com/nsa-confirms-binance-executives-escape-from-custody/

Or United States will arrest him so that he can be sent back to Nigeria? 

This story is hard to believe, how exactly did he escape out of the country when all his belongings where collected from him, before putting him into custody. Who gave him the the passport, how did the he flee the scene without any security personnel taking notice of his movement, for me it's all arrangy. That man cannot walk five blocks away from that environment without the security personnel knowing. I think these are just a make believe story that was cooked up by the Nuhu ribadu's office, just so that the public wouldn't know of the arrangements they've had behind the scene. I'm waiting for the second story that will be brought up for the second detainee that hasn't escaped yet.

[Kliss]

The reported escape of Nadeem Anjarwall (Binance executive) is disappointing. Nadeem Anjarwall was not even in prison because he was not imprisoned. He was under house arrest and took advantage of the courtesy granted him to observe Ramadan prayers to escape.  Which executive of a legitimate and corporative does that, that alone tells that these guys know about something negative that has been going on in their dealings in Nigeria. How can one trust and continue to invest on a platform like Binance when their executive escaped from a lawful, custody, that's why they got kicked out of England and Admitted to criminal charges in U.S. There's still one of them in custody and do believe the security will take every precautionary steps not to allow this act repeat again and as for Nadeem Anjarwall who is on the run Nigerian government are trailing on the flight that took him out and where it's going to land.

[Pi-network314159]

How na? Nawao Nigeria na really a crush scene oh. Na dat dis guy e don escape weti go happen to Di second guy? Di way I dey see this escape na plan work. Well we ni go fit confirm or tok anything about Di escape foe now but let's us be waiting to see weti go happen next. Dis I e now dem fit shutdown the whole exchange in Di country. I also saw Di news on my google chrome newsline and I was about to read it when I got your notification and I left there to come here.  Nigeria Government would have settled dis case with Binance amicably but they prefer dragging it without solution.

Na wettin me I dey reason too, because no how person go disembark from krikri without insider. You no say our country matter na money for hand back for ground. Our people say na rat wey dey inside Naim dey invite the one outside to come chop perty rice. E don dey clear say one person don accept to collect him own Shaer of the cake for back. Come release am or na cartel men because one person no fit do dat kind thing.and d one dem release na the oyibo man make the matter remain we we. Because that one wey reman like this if you like kill am him no go talk anything because we 9ja too dey get mind. Where money for come from na the oyibo man, but since that one don escape nothing dem fit do the one wey remain wey be 9ja person. Make we just dey watch.

[Mate2237]

The second executive will be monitored more than before. I can not say if he can escape or not but it will be more difficult than the first. But I believe there is some plans that we do not know now. Let us see what will happen.

If the second executive escape then the unit that monitoring the Official will be in a very big problem though we don't know how they are doing foe them to escape but such news is a very bad news to Nigerian government and it agencies because instead of and arrested foreigner to escape from their custody then they would given him permission to go home and settled the case out of court. This is very bad, they would have settled this issue since if Nigeria Government and it agencies were good in reasoning.

The only thing is that they still have one of the official in their custody if not Binance would have shun them and would not come back to Nigeria again. And because of the last executive Binance will still come and settle the case but they might pay extra fee for the escapee.

[Davidvictorson]

Charles-Tim you know, I was going to call your attention to this but I am happy that you updated this thread..

JUST IN: NSA confirms Binance executive’s escape from custody

I don't even need to read the news the headline is enough to tell me that something is very fundamentally wrong with our country. The word "escaped" shouldn't even be used. They cannot say that he escaped they should say that they let him go because they have no case against these guys and didn't know how to hide their head in shame and say that they were wrong.

This is a huge embarrassment but the aren't we used to these types of embarrassment?

[OjAbram]

Does it mean now that the governments are interested in our crypto world or do they just want to abuse power and take profit without labour?

How will this scrutiny affect crypto as a whole in Nigeria?

[Benedictare]

   Ah ah ah ah can we see the kind of country we are , corruption has finished Nigeria, how can they tell us ,EFCC oh that they are unable to watch over their criminals,are you seeing it, they have secretly collected bribe and show the man how to escape back to his country.

   Me i know say wetin Nigeria government dey do na igg, but dem forget say the whole world dey touch light dem , person wey  dey inside your house dey run very bad,instead dem for just jejely tell Binance make dem pay dem tax and bill dem money wey dem go pay for violating the law, as the mata don cast dem go dey form protocols, sey dey need names of people wey don use Binance,i know say at last e no go get head . The tin wey pain me pass now be sey we don disgrace ourself for the world, because d world dey look how we wan handle the mata.
   
   Another tin be sey we christians make we wise up and love ourselves,see how our Presido onto dey na Muslim take style release Nadeem say him dey do fasting ,so dem free am small na so him take escape,sey him don reach him country,but if na Christians he must suffer and face the consequences,and i wan believe sey him partner no be Muslim, so make we wise up Christians,small time the mata go die down without them achieving any tin government don take bribe,na him make the country dey as him dey we can't do anything right.

    Anyway it is for our own good Rejoice our fasting and prayer no be for fun for dis period wey Easter dey come

[Amphenomenon]

How na? Nawao Nigeria na really a crush scene oh. Na dat dis guy e don escape weti go happen to Di second guy? Di way I dey see this escape na plan work. Well we ni go fit confirm or tok anything about Di escape foe now but let's us be waiting to see weti go happen next. Dis I e now dem fit shutdown the whole exchange in Di country. I also saw Di news on my google chrome newsline and I was about to read it when I got your notification and I left there to come here.  Nigeria Government would have settled dis case with Binance amicably but they prefer dragging it without solution.

Now that one don escape, the second one sef go escape under the SEC watch. Pump and plain SEC don collect something na make dem get Di ododo to escape.

This has nothing to do with the SEC, but you are not wrong that there is insider work. Not only one person but some people among the them made the escape possible.

The second executive will be monitored more than before. I can not say if he can escape or not but it will be more difficult than the first. But I believe there is some plans that we do not know now. Let us see what will happen.

This is proof that with the right price, you can get anything done just like how Tinubu became president, I guessed there's an high chance the other executive would escaped even if now the security is more tight it is still highly possible with the right price.
My reason for this is that, this man didn't just escape detainment but also got a Kenyan passport and traveled on air, guess we can say he has been planning this since he was detained

[Deborah DB]

cutives-report/]FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

I think the Nigeria Government are so happy seeing how Nigerians are suffering and they are so determined to frustrate every efforts that will ease the pains and hardship Nigerians are facing..

[sokani]

BREAKING NEWS: Detained Binance executive sues NSA and EFCC, urges the court to release him from their custody and return his passport with immediate effect.

[Nwada001]

The federal government is set to charge Binance and its executives in court on April 4th for a four-count tax evasion charge.

FG cleared to prosecute Binance and two others; the fleeing official’s lawyer withdraws
 
Why didn't they add the Naira manipulation, as they claim Binance has a hand in the devaluation of the Naira?

If it's for tax invasion, legal operation, and the rest of the counts I saw on the list, Binance is the victim as charged; they have been operating in this country long enough to get licenced if they wanted to.

[Igebotz]

The federal government is set to charge Binance and its executives in court on April 4th for a four-count tax evasion charge.

FG cleared to prosecute Binance and two others; the fleeing official’s lawyer withdraws
 
Why didn't they add the Naira manipulation, as they claim Binance has a hand in the devaluation of the Naira?

If it's for tax invasion, legal operation, and the rest of the counts I saw on the list, Binance is the victim as charged; they have been operating in this country long enough to get licenced if they wanted to.

They were tagged as the main Naira speculators with no real evidence...

The two charges are legitimate it's hard to back Binance on this one, they have been operating in Nigeria for far too long not to have a registered licence and to pay appropriate service tax. This is long overdue if they must continue to operate in Nigeria they must be regulated to some extent to protect customers right.  The Philippines Govemment is also hooking them on the same No license operations.

[Makus]

It wrong for binance not to have a registered license with the country and sueing them to court for that is right, but just as Nwada001 said, how about the false accusations on binance for manipulating the naira value against the dollar. Without proper research, they openly accused binance, and now what? In normal settings binance is not going to let that slide so easily so this might even lead to the end of binance operation in Nigeria totally or even the world. That is, if the case Intensifies and the regulators get involved in this.  Because I remember clearly that towards the ending of last year, the regulator and SEC charged binance for money laundry and now they are facing charge of illegal operation without licence in 2 countries.

[Proty]

Is very wrong for the govt to have demanded for the list of people using binance this will be breaching the company privacy policies and making users from other countries not to trust the company.

[Coyster]

The federal government is set to charge Binance and its executives in court on April 4th for a four-count tax evasion charge.

The accusation of aiding money laundering, financing terrorism and Naira manipulation were all without any evidence and more or less speculative, so i no dey surprised that neither of that was included in the charges.

Now our government dey focus on tax evasion and dem go win this one because Binance no dey opearate legally for Naija and many other countries. This na the reason why Naija dey hold those Binance executives, because when the judgement goes against them and Binance is fined for example, how do you compel them to pay that fine, so they are like the bait in all these. Anyway, i think the detention is illegal imo, they willingly came to Nigeria to negotiate with the government, only to be detained on arrival and forced to stand as "representatives" of Binance in the court hearings (though one person don already eacape).

[Charles-Tim]

The Binance case has been adjourned to April 19.

UPDATED: Court adjourns Binance tax evasion case till April 19

At the proceedings on Thursday, Binance and Anjarwalla were absent and had no legal representation in court.

Counsel for the FIRS, Moses Ideh, told the court that the plaintiff was unable to serve the second defendant, Gambaryan, the charge in the Economic and Financial Crimes Commission’s custody.

He noted that the bailiff was also denied access to the defendant.

Ideh said, “We have not been able to serve a copy of the charge on the second defendant. We mobilised the court bailiff to serve the second defendant but he was denied access, too. I will be making an application to serve him this morning.”

About tax evasion, I also think the government would win. Binance made money from P2P from Nigerians but not paying taxes. The exchange is not registered in Nigeria. We should also blame Binance because before you can serve the people of a nation, you suppose to register in such nation.

[CryptoHeadlineNews]

About tax evasion, I also think the government would win. Binance made money from P2P from Nigerians but not paying taxes. The exchange is not registered in Nigeria.

I was able to have a glance through yesterday's court judgement, and must confess its really going to be a tough one, as the accuse victim (i.e Gambaryan) who was arrested by the EFCC as an acclaimed Binance executive denied yesterday of he not having any business to do with the company. hence, making the case want to look tough

We should also blame Binance because before you can serve the people of a nation, you suppose to register in such nation.

But how was the registration process supposed to have been possible if i may ask, when you and i know how our Nigerian government has never for once offered any favorable policy to encourage cryptocurrency in the country, despite the massive interest of its citizens to engage in crypto trading, buying and selling, right from Buhari's administration and today current Tinubu's administration. So for me, i do not blame Binance, but rather our Nigerian govt for failing to approach this case in a more professional way, as there is a 100 chance, Binance would have loved to register and pay tax like done in US if only had they been given chance long time ago, but with the way the whole case is going, i don't think they will be ever interested after haven delisted our Nigerian ''NGN'' trading pair.

[Lambugini]

Honestly, each time I remember the issues of our government demanding for lists of it's Nigeria user, e de make me mad. Because I don't still know what government get to do with the operation of binance and it's users. Na for Nigeria I see that government will leave their responsibilities, I means things that they are suppose to do to better the life of her citizens instead chasing things that doesn't concern them. Na them (government officials) the pack the money finish for their selfish interest. Na then go still come the disturb us for where we dey sleep in peace. If they are seeking from binance list of it's Nigeria users they should also provide list of all government officials that have accounts outside Nigeria financial institutions. Abeg, na from them Yahoo start and na still from them I go stop. So make them no look everybody eye like say everyone be like them. Government should allow binance and it's users alone.

[Mate2237]

EFCC been want arraign the remaining Binance staff wey dey under their custody and the man Gambaryan denied say him no be Binance officer and now EFCC no fit arraign am again because him now no be Binance officer. Him no be their agent and him na CIA him be and not an agent for Binance. So the question now who is winning the case? Nigerian government and her agencies fought the fight from a wrong angle. Dem for no attacked Binance like dat but dem for use policies and the law to hold the down. Now they are on the losing side of the fight.

[Nwada001]

Still on this matter, just few hours ago the Binance executive who was charged to court have been denied all 5 count charges against levied against him.

Nigeria Binance dispute: Cryptocurrency official denies money laundering

There are also rumours that he has been sent to Kuje Prison, a prison known to hold high-level criminals in the country, and he is said to be detained there till further notice.
 
My question still remains the same: what is the government doing to this guy? Is it fair enough? I mean, are they not cashing in the wrong person? As we all know, according to Binance officials, Mr. Gambaryan is not one of the Binance decision-makers, and as such, he has no right to authorise any action. So why not leave this guy and use proper legal ways to go after the right people who should be held accountable for anything relating to money laundering and tax evasion?

[Mate2237]

Still on this matter, just few hours ago the Binance executive who was charged to court have been denied all 5 count charges against levied against him.

Nigeria Binance dispute: Cryptocurrency official denies money laundering

There are also rumours that he has been sent to Kuje Prison, a prison known to hold high-level criminals in the country, and he is said to be detained there till further notice.
 
My question still remains the same: what is the government doing to this guy? Is it fair enough? I mean, are they not cashing in the wrong person? As we all know, according to Binance officials, Mr. Gambaryan is not one of the Binance decision-makers, and as such, he has no right to authorise any action. So why not leave this guy and use proper legal ways to go after the right people who should be held accountable for anything relating to money laundering and tax evasion?

I also heard the news today and it was rampant in the social media and other newspaper vendors site. They send am go there to await trial. But me I believe say the man e dey quilty and Binance as we . And when di man was send to prison Binance was not happy. And what Nigeria is doing na good one. Bcos if na Nigerian company do like dis sef dem for do di same thing even more. Ekweremadu him still dey there. But Nigeria dey fight di fight in a wrong way. Dem for us opportunity collect tax well from dem.

Yes it is for because he caught in the company and not in an isolated place and they were manipulating di Naira.

[sokani]

~

We know say Gambaryan na the wrong guy because no be him dey call the shoots at Binance, him no even dey among the top executives but arresting him na the only way Nigerian government fit hold Binance by the balls. Nigerian government no sabi wetin be legal channel, their name na bully, dem dey show the international community how dem dey take treat their citizens.

Many ways take dey to resolve this issue but dem resort to this. Nigeria na one of the top crypto nations for the world and many exchange dey interested in the Nigerian market. I believe say if to say dem been yan well, the two representatives for relay the message back to Binance but dem dey fear say Binance go exit Nigeria without dropping anything naim make dey use this approach. Our government dey fall our hands, dem suppose ask US how dem take do am with CZ

[Loveday422]

How na? Nawao Nigeria na really a crush scene oh. Na dat dis guy e don escape weti go happen to Di second guy? Di way I dey see this escape na plan work. Well we ni go fit confirm or tok anything about Di escape foe now but let's us be waiting to see weti go happen next. Dis I e now dem fit shutdown the whole exchange in Di country. I also saw Di news on my google chrome newsline and I was about to read it when I got your notification and I left there to come here.  Nigeria Government would have settled dis case with Binance amicably but they prefer dragging it without solution.

Now that one don escape, the second one sef go escape under the SEC watch. Pump and plain SEC don collect something na make dem get Di ododo to escape.

This has nothing to do with the SEC, but you are not wrong that there is insider work. Not only one person but some people among the them made the escape possible.

The second executive will be monitored more than before. I can not say if he can escape or not but it will be more difficult than the first. But I believe there is some plans that we do not know now. Let us see what will happen.

My brother how is it possible that they excape without proper arrengement this country self, Wonder shall never sieze to happen in Nigeria at all,while did they even sieze them for the first place,you sieze foreigners ,maybe the country has passed a serious warning to your so call president if anything should happen to them that Nigerians will finish,I know that will be what will happen.i  laugh in Chinese for them  ;Dmr president

[Doan9269]

How na? Nawao Nigeria na really a crush scene oh. Na dat dis guy e don escape weti go happen to Di second guy? Di way I dey see this escape na plan work. Well we ni go fit confirm or tok anything about Di escape foe now but let's us be waiting to see weti go happen next. Dis I e now dem fit shutdown the whole exchange in Di country. I also saw Di news on my google chrome newsline and I was about to read it when I got your notification and I left there to come here.  Nigeria Government would have settled dis case with Binance amicably but they prefer dragging it without solution.

Now that one don escape, the second one sef go escape under the SEC watch. Pump and plain SEC don collect something na make dem get Di ododo to escape.

This has nothing to do with the SEC, but you are not wrong that there is insider work. Not only one person but some people among the them made the escape possible.

The second executive will be monitored more than before. I can not say if he can escape or not but it will be more difficult than the first. But I believe there is some plans that we do not know now. Let us see what will happen.

With this that has been happening already, i seem not to believe in everything the government gives as report because most of them are not as the real case is, two people cannot be in custody and one escaped from them and the other left behind, this looks more of being planned, well, am not to judge on that, but we need to see things beyond what we are just hearing from the media on how possible could they be true, except they show us the other detained representative, i will not believe it was only one who escaped.

[Zanab247]

Still on this matter, just few hours ago the Binance executive who was charged to court have been denied all 5 count charges against levied against him.

Nigeria Binance dispute: Cryptocurrency official denies money laundering

There are also rumours that he has been sent to Kuje Prison, a prison known to hold high-level criminals in the country, and he is said to be detained there till further notice.
 
My question still remains the same: what is the government doing to this guy? Is it fair enough? I mean, are they not cashing in the wrong person? As we all know, according to Binance officials, Mr. Gambaryan is not one of the Binance decision-makers, and as such, he has no right to authorise any action. So why not leave this guy and use proper legal ways to go after the right people who should be held accountable for anything relating to money laundering and tax evasion?

I guess the government heard a story about a country who use this same pattern to make huge amount of money from binance in their country when they entered their country illegally, but since the incident happened to binance official they reorganize themselves never to fall victims to any government again.

  Since our government has failed to take the right action by bringing the CEO of binance to the round table to negotiate about some of the illegals activities that is be going on in the country with binance, and it has caused their fiat money not to be value in the country.

 I  believe the binance CEO i know will respond to the government in a positive way to find solution to their situation and the government will be happy with binance officials.

[Coyster]

There are also rumours that he has been sent to Kuje Prison, a prison known to hold high-level criminals in the country, and he is said to be detained there till further notice.

The way our government they handle this matter no make sense at all, this is violation of human rights and the charges they have is against Binance and not this individual. Binance don already talk say this man no dey in any decision making position of the exchange, so what is the sense in hodling him back in Nigeria for many weeks now.

That being said, transferring him to Kuje prison is just flat-out crazy (if true), this man came into Nigeria of his own accord, he was not compelled or forced to come into the country, reports have it that they came for negotiations with the government, if we didn't want to negotiate, we should have just turned it down and allowed them return to their country. This whole saga has put Nigeria on the spotlight, but for the wrong reasons as usual.

[Mate2237]

With this that has been happening already, i seem not to believe in everything the government gives as report because most of them are not as the real case is, two people cannot be in custody and one escaped from them and the other left behind, this looks more of being planned, well, am not to judge on that, but we need to see things beyond what we are just hearing from the media on how possible could they be true, except they show us the other detained representative, i will not believe it was only one who escaped.

I agreed with you but according to the news, the one that escaped was kept in the house and it was house arrest so when the Ramadan fasting and praying came, he was also there praying and from there guyman tuama and bypass all the protocol to is country. Really this matter e no dey clear at all. And do you know that it is the American citizen that was left behind? Oya think of it, they are fighting dollar to be reduced and held back the American citizen. What is in your mind?

They want American government to respond and reduce their Currency exchange rate in the country and right now they have send di guy to prison. Nigerian government will never tell the public the truth behind this issue.

[Lida93]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Demanding for the list of binance Nigerian users is unjustifiable in this course by the Nigeria federal government in their bid fighting to stabilize the naira value.

 What do they want to use the list of names for?

There's every tendency that at the release of such data from binance into their hands many users will be victimize and unlawful suppressed through the use of government power based on what size of money they have starched in cryptocurrency or stable coin.

There are other legal ways they the government can go about their case with binance and this one isn't one prudent way among many.

[Loveday422]

CZ the owner of binance Will never agree to release any names because if he does that, that's the finish point of his company because I learnt 95% of Nigerians are into binance so if he released the name he has cast his work ,but to me federal government should try their best to put an end of this matter because if really is binance that make Nigeria currency to be high that means it will be put to an end yes,let FG restrict all the users of Bitcoin bbinanc

[Mate2237]

According to the Binance spokesman about the case, he said the charges against Gambaryan who is the Binance staff is  “meritless" and that means the charges are not supposed given to him because he dey innocent of the charges. Therefore it is nonsense for him to be in the Kuje prison or the correctional center. And why Nigeria government dey vex be say, from di outset Binance company refused to collect license for di company so when dem dey shey him dey innocent dey make Nigerian government dey vex well well.

Last last everything go still settle down. Make we dey see weti go happen. Naira still dey high. If na di way hom take fly go up an him for take come down, but now him for don reach 400 naira sef.

[sokani]

And why Nigeria government dey vex be say, from di outset Binance company refused to collect license for di company so when dem dey shey him dey innocent dey make Nigerian government dey vex well well.

No be only Nigeria wey Binance dey operate illegally, Binance no dey registered for Philippines, wetin deir govt do about am? Di govt blacklist binance url and also block deir app on Playstore. Why dem no find somebody to arrest, if binance no say di Filipino market dey important to dem, dem go do di needful. Na wetin I expect from Nigeria govt and no be to resort to dis illegal arrest and bullying, dem dey give us bad name. Even the wife of di detained binance staff don speak out dey discourage foreign investors from coming to Nigeria.

Naira still dey high. If na di way hom take fly go up an him for take come down, but now him for don reach 400 naira sef.

No mata wetin dem do naira no go fall reach 1k.

[Belarge]

EFCC been want arraign the remaining Binance staff wey dey under their custody and the man Gambaryan denied say him no be Binance officer and now EFCC no fit arraign am again because him now no be Binance officer. Him no be their agent and him na CIA him be and not an agent for Binance. So the question now who is winning the case? Nigerian government and her agencies fought the fight from a wrong angle. Dem for no attacked Binance like dat but dem for use policies and the law to hold the down. Now they are on the losing side of the fight.

Everyone of us go de alright if we de only follow these legit projects and always becoming patient, there's more incoming promising projects, just hold your ground and things go de turn your favour small small. The whole matter tire me, but how man go do na? But to succumb to the current state of the country and pray for am to better. But anyhow e bad reach, Man go still survive.  Regarding this Binance, this is one of the most organized, popular and secure crypto exchange in the world but Nigeria have succeeded in ruining the future plans and it have affected everyone.

[Charles-Tim]

The Binance case has been adjourned to May 17.

The tax evasion trial in a Nigerian court involving cryptocurrency exchange Binance and two of its executives has been adjourned to May 17. This delay occurred because the exchange had not yet been formally served with the charges.

Binance has also been charged with money laundering:

In addition to the tax evasion trial, Binance and the executives have also been charged with laundering more than $35 million by Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), in a trial that will resume on May 2.

The second link is the main source
https://cointelegraph.com/news/binance-tax-evasion-trial-moved-to-may-17-in-nigeria
https://businessday.ng/news/article/nigerian-court-adjourns-binance-and-executives-tax-evasion-trial-to-may-17/

[Charles-Tim]

Kenyan police arrest Binance executive who escaped from Nigeria

Binance executive, Nadeem Anjarwalla has been arrested in Kenya and there is possibility that he will be extradited to Nigeria.

One of the sources said, “Binance executive, Nadeem Anjarwalla, has been arrested by the Kenya Police Service, and he would be extradited to Nigeria this week by INTERPOL.”

Another source noted, “As we had said before that Anjarwalla would be extradited, he has been arrested in Kenya, and he’ll be extradited to Nigeria this week.”

[Marykeller]

Kenyan police arrest Binance executive who escaped from Nigeria

Binance executive, Nadeem Anjarwalla has been arrested in Kenya and there is possibility that he will be extradited to Nigeria.

One of the sources said, “Binance executive, Nadeem Anjarwalla, has been arrested by the Kenya Police Service, and he would be extradited to Nigeria this week by INTERPOL.”

Another source noted, “As we had said before that Anjarwalla would be extradited, he has been arrested in Kenya, and he’ll be extradited to Nigeria this week.”

I no know whether to call this a good news or bad news so. Whichever way so, the binance executive extradition to Nigeria go bring so many questions on how he was able to escape from Nigeria's custody.

The question that will be asked, na who and who aided his escape cos I believe sae so many top politicians and policemen go d highly involved for em escape, which them collect bribe for. However Kenya no be a country to go if you know sae your name d for the black book of the Nigerian government cos you see you, see extradition to Nigeria. For example extradition of Nnamdi Kanu from Kenya to Nigeria

Make we see how this one go play out, whether na to grant am bail, or without bail until em serve for prison for months before he will be released

[Charles-Tim]

I no know whether to call this a good news or bad news so. Whichever way so, the binance executive extradition to Nigeria go bring so many questions on how he was able to escape from Nigeria's custody.

Let us see what will happen. Nnamdi Kanu is an agitator demanding for Biafra nation. Court ordered him after he was released from prison not to appear among many people. He disobeyed and he wanted to be arrested again which made him travel abroad. He was left alone abroad until he traveled to Kenya. Kenya may see it as an offence which led to his extradition to Nigeria. But about Nadeem Anjarwalla, we do not know what will happen yet as they were not wanted when they traveled to Nigeria. I do not know much about law and order but let us see what would happen.


Court to hear Binance executive’s bail application Tuesday

Justice Emeka Nwite, has adjourned till Tuesday (which is tomorrow) to hear the bail application of the detained Binance executive, Tigran Gambaryan.

https://punchng.com/court-to-hear-binance-executives-bail-application-tuesday/

[HajiBagi]

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Waiting federal government want, waiting them wan use am do if not be thief wey federal government be, me with my own hard earned money na e one stupid federal government go Dey disturb my life, Binance no go even try do that rubbish with them na, because even if them get the list na steal them go steal people money, but I Dey wonder ooh, what is the meaning of this, this thing start from the day wey I see dollar enter 1900 naira and the federal government say make them no allow Nigeria use Binance again, say na because of dollar na E make things price high for the country, see our government na big criminal and by god grace them no go see waiting them want.

The most painful part be say upon all this thing wey happen, nothing change for the country, the price of things are getting high everyday, I don talk am before say if things price rise for Nigeria it will never go down, and look at it now, E even better make dollar no come down because I no see why dollar come down and nothing change, person just Dey see different shege banza for Naija everyday.

[Doan9269]

Kenyan police arrest Binance executive who escaped from Nigeria

Binance executive, Nadeem Anjarwalla has been arrested in Kenya and there is possibility that he will be extradited to Nigeria.

One of the sources said, “Binance executive, Nadeem Anjarwalla, has been arrested by the Kenya Police Service, and he would be extradited to Nigeria this week by INTERPOL.”

Another source noted, “As we had said before that Anjarwalla would be extradited, he has been arrested in Kenya, and he’ll be extradited to Nigeria this week.”

First thing, the Nigerian government are not being professional at all by any means, because i see no reason why they will have this same business executive escaped through the boarder down to Kenya without any clew when we have all the securities available, yet he escaped from Nigeria down to Kenya before he was later been apprehended by the Authorities in Kenya, this gives me thoughts if we are actually safe and being secured at all or we are been deceived instead by the security operatives and government, if something like this could actually happened.

[EarnOnVictor]

-snip-
The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.

Sorry this is coming late, I just saw it. I've responded to many similar stories and I must say with all emphasis that the Nigerian government are just unspeakable in reasoning and I wonder what they stood to gain eventually because the way I see things, Binance will not yield anymore. If they like, they should jail the Binance executives, nothing will happen, and in the end, Binance would compensate them as though they were still actively working and would treat it as though they are being vilified on the official ground. They came to Nigeria as the representative of Binance before the Nigerian government "kidnapped" them with their rascality that would amount to nothing.

As I've always said, Binance is not the only country dealing with Nigerians and many are not registered in Nigeria. I am also certain that many countries' citizens are dealing with Nigerian businesses without the Nigerian business having any presence in their country despite financial flows happening. So what? The Nigerian government should have used their senses in this case instead of playing towards the path that would make them lose totally. I wonder about their (government) gain when those guys served their jail terms and still earned nothing from Binance which has claimed many times that it does not have any presence in the country.

Besides, I feel for the absconded guy who has now been rearrested in Kenya, he should have run to a better country than Kenya, he should have learned from Nnamdi Kanu that such a country is shameless, nothing so different from Nigeria. I wonder on which ground the guy would be arrested if he is in Europe and other good countries. Nevertheless, I am disappointed about what Binance is doing through legal means to stop the extradition, even if they lose, they should have at least tried, and not let this political rascality continue unabated.

As for the Nigerian names requested, since they refused to work with Binance, now to what gain? The company they never allowed to cooperate with them? I think they will get that in their dreams. This is especially true as they have lost all jurisdiction rights since Binance has stopped all NGN transactions.

[Charles-Tim]

EFCC said Court should disregard Tigran Gambaryan bail application

You can read it in full: https://punchng.com/how-binance-executive-planned-prison-escape-applied-for-new-us-passport/

Investigations by our correspondent revealed how Mr Gambaryan who is currently remanded in Kuje Correctional Facility, applied for a new United States of America passport, under the pretence that his seized passport was missing.

The Armenian-born Binance executive, Gambaryan who has both American and Armenian passports, told the US Embassy in Abuja that he lost his passport which is currently being held by the EFCC, impeccable anti-graft sources privy to the development but not authorised to speak, told The PUNCH on Wednesday.

Following the development, the EFCC has urged the Federal High Court sitting in Abuja to disregard Gambaryan’s bail application, while noting that the Armenian-American could flee from Nigeria like his Kenyan-British colleague, Nadeem Anjarwalla who fled to Kenya.

A source, who is privy to the investigations, revealed that “The second Binance executive, Tigran Gambaryan, who is currently remanded in Kuje prison, has planned to escape from the facility. He applied to the US embassy in Abuja to issue him a new Visa while lying that he lost his passport which was seized by the EFCC.”

Another source, who insisted on anonymity, noted that “Gambaryan could have escaped from Kuje if not for the fact that the US embassy flagged his request for a new passport. Fortunately, the US embassy immediately reached out to the EFFC, and the embassy was informed that he’s a criminal suspect whose case is currently in court for alleged money laundering – concealing the source of the $35,400, 000 generated as revenue by Binance in Nigeria knowing that the funds constituted proceeds of unlawful activity.”

If all these are true, I do not think Mr Gambaryan will be granted bail.

[Franctoshi]

As I've always said, Binance is not the only country dealing with Nigerians and many are not registered in Nigeria. I am also certain that many countries' citizens are dealing with Nigerian businesses without the Nigerian business having any presence in their country despite financial flows happening. So what? The Nigerian government should have used their senses in this case instead of playing towards the path that would make them lose totally. I wonder about their (government) gain when those guys served their jail terms and still earned nothing from Binance which has claimed many times that it does not have any presence in the country.

All this attempts will not hold water if Federal Government fails to the right thing , Since that they've held Binance executives hostage for quite some months now ,What have they done to other exchanges or is this just only targeted on Binance?.

 Because I'm quite sure that majority of Nigerian Bitcoin enthusiasts and traders have resorted to using other platforms for their transactions, things can't stop this way ,If they can't put measures in place to strengthen the Naira, by increasing local production and thus increase exportation, build factories or things that will attract foreign investors, it only just a matter of time the Naira will further depreciate against the United states dollars, the real impact of this Naira appreciation hasn't been priced into the economy.

Even as of today the Naira is trading at $1/#1390 against the dollar, And since the IMF news about the CBN is only defending the Naira with the dollars in their reserves, that the recent Naira strength has no real impact to the economy, we've seen Naira began to lose its gains, whilst the price of goods and services are still on the increasing side.

[Charles-Tim]

Teng acknowledged Nigeria’s significant influence over the future of Binance

Teng acknowledged Nigeria’s significant influence over the future of Binance and the broader crypto industry within its borders, underscoring the importance of collaboration with Nigerian authorities.

He also said that Nigeria government detain the Binance officials just to control Binance. That it is unjust and dangerous precedent” for international businesses.

Teng also said that despite Binance’s repeated efforts at constructive engagement and cooperation with Nigerian authorities, Gambaryan remains in detention for ‘spurious’ reasons.

Binance CEO, in a statement to The PUNCH on Tuesday, said, “To invite a company’s mid-level employees for collaborative policy meetings, only to detain them, has set a dangerous new precedent for all companies worldwide.”

He added, “The message from the Nigerian government is clear: we must detain an innocent, mid-level employee, a former U.S. federal agent, and place him in a dangerous prison to control Binance.

How about the executive that fled to Kenya that was arrested? Has he been sent back to Nigeria?

[Marvelockg]

Binance CEO claims Nigerian officials demanded $150 million ‘bribe’ in crypto payments to ‘make issues go away’

Richard Teng, the firm’s chief executive officer (CEO), made the claim in a blog post on Tuesday. The company first disclosed the amount of the bribes - $150 million- to the New York Times.


What Nigeria government can't do does not exist.

[Ever-young]

If you know you are going to begin snooping into the affairs of Binance, why give them the go ahead to operate here? It's attitude like this that makes us believe that our government have run-out of ideas to push the country forward and are looking for various means to shift the blame because why will you ask for the personal details of the users if not for you to be monitoring the accounts to at least maintain a semblance of control? Naija no go ever change no be lie because we get other things wey dey bother us but we govt choose to enter Binance like say that nai be the real cause of the hardship.
 

My dear, you don talk am finish, they think say they won use our brain wey he say we don already sabi wetin dem dey plan to do and they know say na true  Binance na e some people dey take chop and they won just cancel because mk them dey enjoy to dey see people suffer and them dey also get money too from us, but as we no gree, we don wise up, they won just look for who to blame to because they know na them be the cause of why the country dey like this but they no won accept am but e concern them sha because the evidence plenty say Binance na blessing to us, so na for just our leaders to just accept the truth and leave us hand, make we do wetin go dey help us for life.