Topic: Government demanding from Binance the lists of its Nigerian users - page 5. (Read 1242 times)

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.

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.

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.

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.

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.

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?

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 think the government are up to something.

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.

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.

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.

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.