Government demanding from Binance the lists of its Nigerian users

[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.