Nigeria Government Detains Two Binance Executives

[CryptSafe]

I have long anticipated this particular event between the Nigeria government and binance to take place in the future which is happening now. I remember in my previous comments on a topic created here and the other platform where I said that the government would soon begin clamp down on binance just to get the list of Nigerians registered on their platform since their inception and here it is taking shape. I believe all these fight like I Initially said is just to get at binance to pay tax of all the transaction charges they've been benefitting from Nigeria p2p trade deals.

I believe this is amongst the reasons why the clamp down is taking a different tone altogether and this was the response from the CBN governor when asked about the binance clampdown;
 “In the last four years, more than $26 billion have been funnelled through Binance without trace.”

I would not be surprised that some powers that be themselves are into the Crypto currency trade and are just hiding behind playing innocent but doing the unthinkable just to protect or cover up their dirty act with the funds under their custody.

In all, the major reasons behind this scuffle is just taxation. The Nigeria government just wants binance to pay tax of all transactions  they have conducted on the Nigeria binance p2p platform which they want to benefit from  that's all. That is a huge amount of money which they know themselves could benefit from through channeling it to other means in the name of projects and other engagements.

My concern now is this, would the federal government charge binance to pay for tax in arrears right from their inception and also charge Nigerians registered with binance to pay tax in same fate as they have begin to put pressure on binance to give them list and details of Nigerians registered with them right from their inception.

Your thoughts and opinions are welcomed.

Ref.




https://dailypost.ng/2024/02/28/naira-rescue-nigeria-govt-detains-binance-executives-amid-crackdown/

https://gazettengr.com/nsa-ribadu-detains-two-binance-executives-in-abuja-demands-list-of-nigerians-on-global-crypto-platform/

Our government with their  way of indulging in extortion in a form of a way I called misplaced priority, their could have been a better way of lifting the economic downtime than the way they are going about it, corruption at the highest order. Definitely are we are going to grow a thicker skin for survival. What a country political leaders without vision and plans for their citizens. Their actions can never add values to the economy it has always been their selfish interest.

Of a truth it has always been their selfish interest and self agenda first. They do not think about the average citizens of the country. All these tit for tat fight going on now with binance is just to get their own share of the cake by imposing tax on crypto related transactions as the case may be but binance objected because they are not benefiting from the p2p transactions as it is done with zero (0) fee and federal government decided to tag it to be a currency devaluation battle to cover up their  exposed intentions.
Of lately, binance decided to cut of all engagement with NGN on their platform. No more NGN trading pairs and I pray they do not decide to bar Nigeria from operating with binance because if they do that, it would be a bit inconvenience for some people but both parties would have to bear whatever that comes out as the result of their actions.

[1714854825]

1714854825

[Y3shot]

This goverment don't even know what they are doing. Binance is no more in the country why have nothing change about the naira.  Naira is still losing value.  The next thing they will do now is to stop other exchanges from operating in Nigeria . This goverment don't want to take responsibility to their challenges instead they want to fault everything other people.  This goverment is not ready to work If they can't start solving problems than looking for who to blame.

[Loveday422]

Our government don't want anything to benefit the youth,for the fact that the two executive of binance is being arrest let them also change it in court ,they don't have anything to do with Nigeria government paying of tax will not have head ,they should release them,and let the platform start working again,they are loosing money already,this is wickness,except the court is being bayals ,that's only when FG will win the case.to me FG is not supposed to win the case

[Antotena]

Our government don't want anything to benefit the youth,for the fact that the two executive of binance is being arrest let them also change it in court ,they don't have anything to do with Nigeria government paying of tax will not have head ,they should release them,and let the platform start working again,they are loosing money already,this is wickness,except the court is being bayals ,that's only when FG will win the case.to me FG is not supposed to win the case

There is no rule of law in Nigeria, this is the reason why all these things are happening. The guy in question that was apprehend by the federal Government isn't part of the Binance team, just a mere collaborators who work as agent to make negotiations with African countries and Binance and we all aware this thing happen everywhere and the government are happy to keep this guy with them, they don't have evidence, they don't have what they are asking Binance to provide, and yet they don't want to free the guy.

If this kind of a thing should happen in western part of the country, a lot of delegates and protest will be happening right now but sadly we can't do anything to help him unless his own country decide to sue the federal government, they wouldn't have choice but to free the guy especially if he is from UK or places like France and US because of the benefits Nigeria government gets from them.

[Bright0515]

https://l.kphx.net/s?d=9198982104538380661&extra=
The EFCC Dom detain some binance top men for naija with the accusation say them no dey pay tax for the country them talk say Dem been Dom let them know before but say them still ignore them do there own.

But my country people if me and u put eye for this matter for proper investigation we go find out say since wen Nigerian government Dom dey find wey to chuk mouth for matter when concern binance no be today.
I been Dom post something for this same forum ask question say na this method Nigeria government wan take collect money from binance or them wan stop binance for the country or wetin, make we forget that matter say EFCC this people na them dey corrupt pass for this country this EFCC and Nigerian police na the same thing some of them dey even carry POS machine dey waka Incase of fast transaction wen go favour their pocket.

Although the matter dey go court make we wait see the outcome but make everybody wen dey use binance now dey cautious.

[headingnorth]

Why would they be dumb enough to travel to Nigeria knowing what happened to their former boss CZ after he came to the US?
You cannot trust these corrupt governments. The US is just as bad if not worse than Nigeria when it comes to corruption.

[Orpichukwu]

Why would they be dumb enough to travel to Nigeria knowing what happened to their former boss CZ after he came to the US?
You cannot trust these corrupt governments. The US is just as bad if not worse than Nigeria when it comes to corruption.

It's not a dump; they came in respect to settling things amicably with the government in order to put things in place and prove that the exchange was not guilty of the first charges that were laid against them (Naira manipulation), but it turns out that it was a perfect means for the country authority to detain them, which was not a proper thing to do. 
 
Now that the case has been taken to court, those first charges are no longer there; it's now an issue of tax invasion, and all of us can also see the clear picture that Binance was not operating legally. As such, there is every tendency that they are not paying tax. If that's the case, it's not enough to detain those people; they can just sanction the exchange as a whole and take legal action against them.

[Mate2237]

I think Binance now dey challenge dem to release their. Binance said Nigeria Economic does not know how to predict, and manage di economy. A d nai me we dey suffer. Dem say di second Binance officer wey still dey DSS custody no be Binance officer but na contractor wey Binance hire to come and help dem to clear some kind of things in Nigeria and when di gbege happened dem been dey come to settle di matter and investigate di matter na the agency gbabu dem. So make Nigerian government release di American citizen. And make Nigeria no blame dem for devaluation of the naira and the high cost of living and inflation in di land.