“Nigeria’s Dispute with Binance Persists as Country Requests Exchange to Provide List of Top 100 Users”

“Nigeria’s Dispute with Binance Persists as Country Requests Exchange to Provide List of Top 100 Users”

Cryptocurrency
March 13, 2024 by Diana Ambolis
150
“Nigeria Demands Six-Month Transaction History from Binance Alongside List of Top 100 Users” Nigeria has requested Binance to provide information on its top 100 users in the country and the transaction history spanning the past six months, as reported by the Financial Times on Tuesday. The demand arises amidst the ongoing detention of Binance’s compliance
Binance

“Nigeria Demands Six-Month Transaction History from Binance Alongside List of Top 100 Users”

Nigeria has requested Binance to provide information on its top 100 users in the country and the transaction history spanning the past six months, as reported by the Financial Times on Tuesday.

The demand arises amidst the ongoing detention of Binance’s compliance head, Tigran Gambaryan, and Africa region manager, Nadeem Anjarwalla, which has extended into a third week. The executives have been held in a “guesthouse” operated by Nigeria’s National Security Agency since their arrival in Abuja on Feb. 25, upon the Nigerian government’s invitation. News of their detention emerged on Feb. 29 without their names being disclosed, but their titles and identities were revealed on Tuesday.

Also, read- Nigerian Authorities Detain Binance Executives, Seize Passports for Two Weeks

The dispute between Nigeria’s government and Binance revolves around approximately $26 billion of untraceable funds. Nigeria views Binance as a significant factor undermining its efforts to stabilize its currency, the naira. Additionally, Nigeria is urging Binance to address any outstanding tax obligations, with Binance having removed the naira from its trading options on its website.

Although neither Gambaryan nor Anjarwalla have been formally charged with any offense, they are being detained “simply as hostages,” according to the Financial Times, citing “one person briefed on the situation.” However, the individual noted that they are being treated well.

In the past 24 hours, a Binance spokesperson stated that they are cooperating with Nigerian authorities to facilitate the return of Nadeem and Tigran to their families.

The Financial Times also mentioned a court order permitting the detention of the Binance executives for 14 days, which expired on Tuesday, with a hearing scheduled for Wednesday to determine any extension.