The Federal Government has reportedly sought detailed information from cryptocurrency trading firm Binance concerning its top 100 users in Nigeria.
This move is part of the government’s efforts, facilitated by the Office of the National Security Adviser (ONSA), to establish negotiations with Binance and address concerns regarding cryptocurrency transactions in the country.
According to reports from the Financial Times, the Nigerian government has also requested Binance to provide all transaction history within the country for the past six months. Additionally, the government is urging Binance to resolve any outstanding tax liabilities before the release of its detained executives.
“Nigeria is pressing Binance for information on its top 100 users in the country, as well as all transaction history for the past six months,” stated the report.
The reported request comes amidst the detention of two Binance officials, Tigran Gambaryan, a U.S. citizen and British-Kenyan Nadeem Anjarwalla, who have been held in custody for two weeks following their arrest by Nigerian authorities.
In response to inquiries regarding the government’s request, an official from Binance declined to comment, citing privacy concerns for users.
“It is inappropriate for us to comment on the substance of the claims at this time. We can say that we are working collaboratively with Nigerian authorities to bring Nadeem and Tigran back home safely to their families,” the official stated in a conversation with Peoples Gazette on Wednesday.
The Federal Government’s actions against Binance come in the wake of allegations that the cryptocurrency firm undermined efforts to stabilize the naira.
Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, accused Binance of setting exchange rates for Nigeria and encroaching on the role of the Central Bank of Nigeria (CBN).
Responding to these allegations, CBN Governor Olayemi Cardoso highlighted that $26 billion had passed through Binance from unidentified sources. Cardoso affirmed that regulatory agencies were collaborating to prevent manipulation in the foreign exchange (FX) market.
