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/
Topic: Government demanding from Binance the lists of its Nigerian users - page 5. (Read 1474 times)
March 18, 2024, 11:45:56 AM
March 16, 2024, 03:38:19 PM
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.
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.
March 16, 2024, 03:06:43 PM
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:
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/
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/
March 16, 2024, 01:59:50 PM
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.
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.
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March 16, 2024, 01:33:24 PM
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.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.
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.
March 16, 2024, 10:25:46 AM
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/
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/
March 14, 2024, 03:01:53 PM
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.
March 14, 2024, 12:21:15 PM
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.
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.
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.
And Binance told the government of America and UK that their citizens will go back to their country safety.
March 13, 2024, 06:59:18 PM
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.
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.
March 13, 2024, 04:35:52 PM
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. 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.
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.
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.
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?
March 13, 2024, 04:17:35 PM
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.
March 13, 2024, 10:58:22 AM
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. 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.
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.
March 13, 2024, 08:59:46 AM
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. 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 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.
March 13, 2024, 08:47:35 AM
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. 
March 13, 2024, 08:30:50 AM
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
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?
March 13, 2024, 08:03:30 AM
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
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
March 12, 2024, 05:00:09 PM
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.
March 12, 2024, 01:10:39 PM
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.
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.
March 12, 2024, 07:16:57 AM
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.
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.
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