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BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation - Politics - Nairaland

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BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by wwwihy: 7:03pm On Feb 28
BREAKING: FG detains Binance executives as Nigeria tries to rein in speculation on the naira by cracking down on cryptocurrency exchanges, per Financial Times

The two executives were said to have flew to Nigeria following Nigeria's decision to ban several cryptocurrency trading websites last week but they were detained by the office of the country’s national security adviser and their passports seized.


https://www.ft.com/content/1507509b-7bbc-48a1-9828-d777036fff2b

8 Likes

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by wwwihy: 7:04pm On Feb 28
Nigeria's National Security Adviser, Nuhu Ribadu is demanding to see a list of Binance’s Nigerian users since its inception from the detained executives.

CBN Governor, Olayemi Cardoso had earlier revealed that in the last one year alone, $26bn has passed through Binance Nigeria from sources and users Nigeria cannot adequately identify.

Here we go …

Nigeria detains US and British Binance staff as authorities probe market manipulation

14 Likes

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Massiveglory: 7:09pm On Feb 28
I hope this fire brigade approach will not land naira to 3000 to a dollar.
Is this the way to attract investors?
This fire brigade approach could give you tempoary reliefs but greater problems.

I should think this approach and strength should be tailored more into shifting Nigeria from a consuming nation to a producing nation and strengthening institutions to curb corruption to bearest minimum begining from the top.

If you leave root of the problem in the nation and begin to cut off the branch with all your strength, it is more of us a basket to fetch water.

8 Likes 1 Share

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Nikoli: 7:10pm On Feb 28
Hnnn
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by richiemcgold: 7:12pm On Feb 28
It's getting hotter
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by jmoore(m): 7:12pm On Feb 28
/
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Chinjo2: 7:15pm On Feb 28
I want to sincerely ask the federal government this question.
Is trading in cryptocurrency an illegal business?

2 Likes 2 Shares

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Faiththatworks(m): 7:15pm On Feb 28
Hmmmmmmmmmm.................
I wept Terribly this afternoon,I almost went mad when I couldn't buy usdt this afternoon,I had to call some of my friends because I thought I was banned by binance.
Asiwaju should instruct those in charge to stop this policy and allow binance continue with their crypto trading.
I tried to receive money from An African country yesterday,this is a true story,it was a sad tale,it seems Nigeria is being cut off from the world.
Even the remittance companies are refusing to release money once they see it's being sent to Nigeria.
I'm for regulating the activities of Binance in Nigeria,but to totally stop Nigerians from buying crypto currency is a throwback to the medieval days,I appeal to Asiwaju to please open negotiations with crypto exchanges operating in Nigeria.
I believe the Minister of Digital Economy,the Minister of Finance and if possible the EFCC and NSA should sit down and deliberate on how to sanitize and regulate all crypto exchanges in Nigeria.
Sincerely it's a terrible move by the government,binance is a top notch exchange that only allows purchase after a thorough KYC,if there's any money laundering on the platform, Government can easily pick out the individual and ask for his KYC.
I appeal again to the government not to throw away the baby and the bath water.
Binance has also started some self correction,its dollar to naira price on some crypto tokens are same with the government rate,I appeal to Government to please allow us start trading.
There are some of us who were very sure the kind of manipulation going on in binance will eventually lead to his closure,but I believe Government should tamper Justice with mercy and give it a second chance.
God bless Nigeria.

1 Like

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by id911(m): 7:16pm On Feb 28
wwwihy:
Nigeria's National Security Adviser, Nuhu Ribadu is demanding to see a list of Binance’s Nigerian users since its inception from the detained executives.

CBN Governor, Olayemi Cardoso had earlier revealed that in the last one year alone, $26bn has passed through Binance Nigeria from sources and users Nigeria cannot adequately identify.

Here we go …

Nigeria detains US and British Binance staff as authorities probe market manipulation

Stop feeding people with fake news. Binance office in Nigeria are manned by Nigerian staff. They don't even need the Nigerian office, they can close it down at any time and sack all the staff and their business continues everywhere as nothing happens. Na Nigerians go lose their jobs no be Binance problem.

3 Likes

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Sccarrr: 7:17pm On Feb 28
Chinjo2:
I want to sincerely ask the federal government this question.
Is trading in cryptocurrency an illegal business?
u no Sabi road to federal capital?

5 Likes

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by wwwihy: 7:20pm On Feb 28
id911:
[/b]
Stop feeding people with fake news. Binance office in Nigeria are manned by Nigerian staff. They don't even need the Nigerian office, they can close it down at any time and sack all the staff and their business continues everywhere as nothing happens. Na Nigerians go lose their jobs no be Binance problem.
Read again before you comment

8 Likes

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by id911(m): 7:24pm On Feb 28
wwwihy:

Read again before you comment

I've already bolded your fake news. Enjoy as i won't respond to you again.

2 Likes

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Iamzik: 7:25pm On Feb 28
Faiththatworks:
Hmmmmmmmmmm.................
I wept Terribly this afternoon,I almost went mad when I couldn't buy usdt this afternoon,I had to call some of my friends because I thought I was banned by binance.
Asiwaju should instruct those in charge to stop this policy and allow binance continue with their crypto trading.
I tried to receive money from An African country yesterday,this is a true story,it was a sad tale,it seems Nigeria is being cut off from the world.
Even the remittance companies are refusing to release money once they see it's being sent to Nigeria.
I'm for regulating the activities of Binance in Nigeria,but to totally stop Nigerians from buying crypto currency is a throwback to the medieval days,I appeal to Asiwaju to please open negotiations with crypto exchanges operating in Nigeria.
I believe the Minister of Digital Economy,the Minister of Finance and if possible the EFCC and NSA should sit down and deliberate on how to sanitize and regulate all crypto exchanges in Nigeria.
Sincerely it's a terrible move by the government,binance is a top notch exchange that only allows purchase after a thorough KYC,if there's any money laundering on the platform, Government can easily pick out the individual and ask for his KYC.
I appeal again to the government not to throw away the baby and the bath water.
Binance has also started some self correction,its dollar to naira price on some crypto tokens are same with the government rate,I appeal to Government to please allow us start trading.
There are some of us who were very sure the kind of manipulation going on in binance will eventually lead to his closure,but I believe Government should tamper Justice with mercy and give it a second chance.
God bless Nigeria.

Binance is gone forever!
Una go beg tire 😜😉

2 Likes

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by LegendHero(m): 7:27pm On Feb 28
wwwihy:
Nigeria's National Security Adviser, Nuhu Ribadu is demanding to see a list of Binance’s Nigerian users since its inception from the detained executives.

CBN Governor, Olayemi Cardoso had earlier revealed that in the last one year alone, $26bn has passed through Binance Nigeria from sources and users Nigeria cannot adequately identify.

Here we go …

Nigeria detains US and British Binance staff as authorities probe market manipulation

Wahala wear bone straight.

Binance should have the KYC details so if everything is fine with them, they should be able to provide the data NSA requested for.

After this, if found culpable of supporting money laundering with respect to how they conduct the trade on their platform illegally, FG should fine Binance and accuse them of economic sabotage.

USA did same thing last year and fined Binance CEO of $4bn.

10 Likes

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by BItt: 7:37pm On Feb 28
I thought these jobs require the whites to work from home.
How come they were traced and apprehended
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by franchasofficia: 7:43pm On Feb 28
Nigeria; every week one drama, what a nation, sighs
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by wwwihy: 7:47pm On Feb 28
BItt:
I thought these jobs require the whites to work from home.
How come they were traced and apprehended
Read again

7 Likes

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Coldspice: 7:56pm On Feb 28
id911:
[/b]
Stop feeding people with fake news. Binance office in Nigeria are manned by Nigerian staff. They don't even need the Nigerian office, they can close it down at any time and sack all the staff and their business continues everywhere as nothing happens. Na Nigerians go lose their jobs no be Binance problem.

I know someone who used to be in Binance before she was sacked. Binance has no office in Naija. They are remote workers and all they need to let you go is deactivate your system at the end of the month before paying your salary. Once you return it, they pay you your salary.
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by RenaissanceGuy: 7:57pm On Feb 28
Very good. Crypto may eventually cripple world economy, if there are no stringent regulations put in place.

1 Like

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by seanfer(m): 8:05pm On Feb 28
wwwihy:
Nigeria's National Security Adviser, Nuhu Ribadu is demanding to see a list of Binance’s Nigerian users since its inception from the detained executives.

CBN Governor, Olayemi Cardoso had earlier revealed that in the last one year alone, $26bn has passed through Binance Nigeria from sources and users Nigeria cannot adequately identify.

Here we go …

Nigeria detains US and British Binance staff as authorities probe market manipulation
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by ivolt: 8:06pm On Feb 28
RenaissanceGuy:
Very good. Crypto may eventually cripple world economy, if there are no stringent regulations put in place.
What world economy?
Are you living under the Rock?
The US SEC approved many Bitcoin ETFs this year and Ethereum ETFs are on the way.

If you know what ETFs are you will realise that crypto just got the strongest backing it can get.

6 Likes 2 Shares

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by pointblank247(m): 8:07pm On Feb 28
Scape 🐐
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by seanfer(m): 8:10pm On Feb 28
Massiveglory:
I hope this fire brigade approach will not land naira to 3000 to a dollar.
This fire brigade approach could give you tempoary reliefs but greater problems.

I should think this approach and strength should be tailored more into shifting Nigeria from a consuming nation to a producing nation and strengthening institutions to curb corruption to bearest minimum begining from the top.

If you leave root of the problem in the nation and begin to cut off the branch with all your strength, it is more of us a basket to fetch water.




If cost of production is at the highest level, how will you produce?
You've been going around posting this lamentation everywhere since morning. But you forget that the citizens are affected by the act of the speculators. You sound pained that the Government is trying to make the naira appreciate

3 Likes

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Chinkoalhaji34: 8:15pm On Feb 28
This is a concerning move by the government, limiting access to cryptocurrency could have negative impacts on the economy and personal finances.
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Hoelujohn: 8:18pm On Feb 28
Massiveglory:
I hope this fire brigade approach will not land naira to 3000 to a dollar.
This fire brigade approach could give you tempoary reliefs but greater problems.

I should think this approach and strength should be tailored more into shifting Nigeria from a consuming nation to a producing nation and strengthening institutions to curb corruption to bearest minimum begining from the top.

If you leave root of the problem in the nation and begin to cut off the branch with all your strength, it is more of us a basket to fetch water.



Think am na. Shey na only Nigeria be importing nation? Why other country currency no dey increase any how? D amount of foreign remittance alone entering this country alone is enough talkless of crude oil money and yahoo money

1 Like

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by AllTheWayUp: 8:19pm On Feb 28
The Great Tinubulation continues

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Hoelujohn: 8:22pm On Feb 28
Faiththatworks:
Hmmmmmmmmmm.................
I wept Terribly this afternoon,I almost went mad when I couldn't buy usdt this afternoon,I had to call some of my friends because I thought I was banned by binance.
Asiwaju should instruct those in charge to stop this policy and allow binance continue with their crypto trading.
I tried to receive money from An African country yesterday,this is a true story,it was a sad tale,it seems Nigeria is being cut off from the world.
Even the remittance companies are refusing to release money once they see it's being sent to Nigeria.
I'm for regulating the activities of Binance in Nigeria,but to totally stop Nigerians from buying crypto currency is a throwback to the medieval days,I appeal to Asiwaju to please open negotiations with crypto exchanges operating in Nigeria.
I believe the Minister of Digital Economy,the Minister of Finance and if possible the EFCC and NSA should sit down and deliberate on how to sanitize and regulate all crypto exchanges in Nigeria.
Sincerely it's a terrible move by the government,binance is a top notch exchange that only allows purchase after a thorough KYC,if there's any money laundering on the platform, Government can easily pick out the individual and ask for his KYC.
I appeal again to the government not to throw away the baby and the bath water.
Binance has also started some self correction,its dollar to naira price on some crypto tokens are same with the government rate,I appeal to Government to please allow us start trading.
There are some of us who were very sure the kind of manipulation going on in binance will eventually lead to his closure,but I believe Government should tamper Justice with mercy and give it a second chance.
God bless Nigeria.
Imagine say na country like China Binance try all those naira mago mago with... Na death by hanging for majority of traders ooo. Na Espionage be dat

7 Likes

Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by ivolt: 8:36pm On Feb 28
LegendHero:


Wahala wear bone straight.

Binance should have the KYC details so if everything is fine with them, they should be able to provide the data NSA requested for.

After this, if found culpable of supporting money laundering with respect to how they conduct the trade on their platform illegally, FG should fine Binance and accuse them of economic sabotage.

USA did same thing last year and fined Binance CEO of $4bn.
Binance CEO was fined for committing a known crime in the US.
Now tell what crime did Binance commit.
Let us know the relevant part of Nigerian law that Binance broke.
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by DavidEsq(m): 8:40pm On Feb 28
ivolt:

What world economy?
Are you living under the Rock?
The US SEC approved many Bitcoin ETFs this year and Ethereum ETFs are on the way.

If you know what ETFs are you will realise that crypto just got the strongest backing it can get.
Pls ignore that gworo-chewing, malu Shepard, bush dweller.
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by a4cube: 8:49pm On Feb 28
It seems this Binance issue is affecting other money transfer system to Nigeria.
The money I sent through LemFi since morning is yet to hit my account. They warned me b4 sending the money but I thought it will delay for few hours. As I type the bar is still hanging.

I need to pay my domestic staffs by tomorrow.

NB: This Binance/Crypto of a thing how does it work. I know next to nothing about it.
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Ecstasy123: 8:52pm On Feb 28
See why Binance P2P is Banned in Nigeria now! 😱🤯

https://www.youtube.com/watch?v=UAOBqLDX6kc
Re: BREAKING: FG Detains Binance Executives As Nigeria Tries To Rein In Speculation by Ola9ja23: 8:58pm On Feb 28
Massiveglory:
I hope this fire brigade approach will not land naira to 3000 to a dollar.
This fire brigade approach could give you tempoary reliefs but greater problems.

I should think this approach and strength should be tailored more into shifting Nigeria from a consuming nation to a producing nation and strengthening institutions to curb corruption to bearest minimum begining from the top.

If you leave root of the problem in the nation and begin to cut off the branch with all your strength, it is more of us a basket to fetch water.




Mumu we know you are not happy that the new policies are yielding superlative result

We know the enemies of Nigeria were looking the downfall of Naira but God in heaven will keep humiliating you till Jesus comes

IPOBidients crying and wailing

11 Likes

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