Government demanding from Binance the lists of its Nigerian users - page 4.

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Quote from: Coyster on March 21, 2024, 10:04:17 AM

Quote from: Mate2237 on March 21, 2024, 07:44:04 AM

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.

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Quote from: Samlucky O on March 21, 2024, 10:43:59 AM

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.

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Quote from: Makus on March 19, 2024, 12:14:13 AM

Quote from: Charles-Tim on March 18, 2024, 11:45:56 AM

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.

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Quote from: Mate2237 on March 21, 2024, 07:44:04 AM

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.

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Quote from: Rruchi man on February 29, 2024, 05:07:46 AM

Quote from: Charles-Tim on February 29, 2024, 03:03:57 AM

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 .

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Quote from: Mate2237 on March 21, 2024, 07:44:04 AM

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://bitcointalksearch.org/topic/m.63824366

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

Quote from: Mate2237 on March 21, 2024, 07:44:04 AM

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.

Mate2237

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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

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Quote from: EL MOHA on March 21, 2024, 07:10:43 AM

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.

Quote from: EL MOHA on March 21, 2024, 07:10:43 AM

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.

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Quote from: Obim34 on March 21, 2024, 01:27:11 AM

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

Obim34

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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?

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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.

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Quote from: Charles-Tim on March 18, 2024, 11:45:56 AM

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.

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Quote from: Charles-Tim on March 18, 2024, 11:45:56 AM

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.

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Quote from: 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/

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.

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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.

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Quote from: Charles-Tim on March 19, 2024, 06:33:28 AM

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.

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Quote from: Makus on March 19, 2024, 12:14:13 AM

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.

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Quote from: Charles-Tim on February 29, 2024, 03:03:57 AM

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.

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Quote from: cabron on March 14, 2024, 12:21:15 PM

Quote from: Mate2237 on March 14, 2024, 11:21:34 AM

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.

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Quote from: Charles-Tim on March 18, 2024, 11:45:56 AM

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.

Topic: Government demanding from Binance the lists of its Nigerian users - page 4. (Read 1474 times)