EnterpriseMan:
One of the biggest joke I have ever heard. If you like order from now till kingdom come, those fagots will not get any data.
It's simply breach of privacy.
Binance is a worldwide entity and disclosure of client data to any government without any evidence of crime is something that they can get sued for and make them lose billions of dollars.
The issue is plain and simple, Nigeria cannot and don't have the power to get any data from Binance.
If you like arrest staff, is it the staff that has the data? You think the owner of Binance even has their time?
Mumu people, ordering them to release data on what grounds? Nigeria and embarrassing themselves internationally will never get old.

nedu666:
Unfortunately for fed govt binance is not registered to do business in Nigeria and part of their terms and conditions is that they will not reveal your details. Binance will challenge this in court and drag the case or ignore the fed govt

ivolt:
How will they enforce this?
Binance won't hand over data of all Nigerians to the government and risk
being sued by Nigerian residents in EU and US.
Or even was face sanctions for violating data privacy regulations.

kamtamark:
What if Binance release the top 100, and all of them team up and sue binance for bridge of privacy?

VanuatuWycombe:


It is a financial institution. You can see currency behind crypto, at least. And it’s trading such currency which is affecting an economy.

When you here financial institution, don’t let your mind go to only banks.
Insurance company is part of financial institutions. Add that to your pool of knowledge today.

Any company that deals in anything or renders any services that affects finance on a macro level, is termed financial institution.

That’s why the Act that regulates them has this name. BANKS AND OTHER FINANCIAL INSTITUTIONS ACT OF 1991 (as amended).

VanuatuWycombe:


This is not a matter of bank sir. Once we say Duty of Secrecy, one of the things that can make the data to be released is by COMPETENT COURT OF LAW telling such company to do so.

Two other ways it can be disclosed are:

- when the company itself is trying to defend itself in a court of law and there’s need to disclose such info.

- if the owner of such info instructs the company to disclose.

Among all these 3 situations, that of court of law is the most supreme.

You can ask any lawyer.

Paraman:
They can't sue Binance because they are only obeying a court order

rolams:


You funny die!

Have you ever read the terms and conditions always attached to cryptocurrency where "NOT FINANCIAL ADVICE" is written? He get why.

If you don't understand cryptocurrency you get this point.

VanuatuWycombe:


Work on the company where those directors work. You would know the name Binance is using to trade in Nigeria.
How does Binance pay its tax to Nigerian government, if it’s not registered in Nigeria under a trading name?

ChatGPT will make you lazy Nigerian youths to be more lazy.

So a company will register in Malta and be trading in Nigeria without paying taxes in Nigeria? Kai 🙈🙈. You think every company that pays tax to Nigerian government doesn’t have Tax Payers Code?

Google will finish you and those you are leading.

You think parts of all taxes being deducted on you buy Facebook and co are not being paid in the US and Nigeria?

Go and read more about corporations and how governments charge taxes on revenues accruing from abroad.

Facebook or Twitter has no issue that would warrant its customers’ details to be compelled by competent Nigerian court to release it.

If Facebook or Twitter could match the line and there’s need to see details of its subscribers, Facebook or Twitter has to comply. That’s the law of our land. It rules above Twitter’s or Facebook’s laws.

VanuatuWycombe:


Good luck bro. Who knows which other platform government will clamp-down, after Binance?

FreeStuffsNG:
High Court Orders Binance To Release Names, Information Of Nigerians Trading On Cryptocurrency Platform

Mr Bello noted that following the inauguration of the Technical Committee on Currency Stability and Forex Manipulation by the ONSA, the SIT “received an intelligence stating the nefarious activities (money laundering and terrorism financing) on Binance,” a cryptocurrency exchange platform.



Mr Bello added that upon receipt of the intelligence, the team began investigating by carrying out surveillance of the activities of the platform.

He stated, “The team uncovered users who have been using the platform for price discovery, confirmation, and market manipulation, which has caused tremendous distortions in the market, resulting in the Naira losing its values against other currencies.


“That the damage the platform has caused was clearly explained to the operators of the platform and they were requested to delist the Naira and avail the ONSA on the activities of the Nigerians on their platform.


“That from the information afforded to the team by Binance shows that the total trading volume from Nigeria in 2023 alone stood at $21.6 million.

“Attached and marked as Exhibit EFCC 1 is a copy of the document from Binance to the ONSA stating this fact amongst others. That the commission will ensure that investigation is conducted within such reasonable time.”

Mr Bello, who said the matter was of utmost urgent public interest, said the data provided would enable the commission to accomplish its investigation activities.

He said it was in the interest of justice to grant the application, as refusing the request would largely hamper the commission’s investigation.

It was reported last week that the Nigerian Government had pleaded before a chief magistrate's court in Abuja to extend the detention of two Binance executives arrested by the country’s National Security Adviser.

The Binance executives identified as Tigran Gambaryan, a U.S. citizen and Binance's head of financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan who is African regional manager for the cryptocurrency trading firm, flew to Nigeria following the country's decision to ban several cryptocurrency trading websites, but they were detained on arrival on February 26.



Reuters reported that the court order granting the EFCC permission to detain the Binance executives for two weeks to facilitate investigations expired last Tuesday and the duo had not been released.

They had also not been charged with any crime.

Meanwhile, Reuters reported that the EFCC had asked the chief magistrate's court to extend their detention while investigations continue, said a person involved in the case but not authorised to speak to the press.

The two executives' lawyers maintained that there were no grounds for keeping them in detention, the person added.

Another source privy to the incident said a hearing was set for March 20 when the court can either dismiss or grant the extension request on the same day or later.


The spokespersons for the EFCC and the Office of the National Security Adviser, which is also involved in the probe, did not respond to Reuters requests for comment.

The crackdown on cryptocurrency trading in Nigeria had been linked to the devaluation of the country’s currency, Naira.

The Nigerian authorities last Tuesday asked Binance to share data on its 100 top users in Nigeria for possible probe and charge. But the company kept mum on this request.


Anjarwalla's wife, Elahe, told Reuters that the two men were being kept in a guarded house in the capital Abuja and she had been able to speak to her husband on the phone at least once a day, although he can only speak in the presence of a guard.



https://saharareporters.com/2024/03/18/high-court-orders-binance-release-names-information-nigerians-trading-cryptocurrency#google_vignette

Mynd44:
Nigeria asked Binance to give it the top 100 users, Binace decided to hide behind personal security which they are right now. Now the court has ordered them to release a comprehensive list of every Nigerian there.

Everyone who has used Binace will now have their details and transaction history sent to the FG.

kamtamark:


It will now depend on the terms Binance had with Nigerian government before letting Nigerians on the platform.
Because i think Binance is an independent body that must fulfill some conditions before is allow in any country.

Konquest:

Under the KYC rules, Binance OR other exchanges are under the obligation to supply the details of their users if investigations are going on.

In the United States, U.S. Federal Agents specializing in Bitcoin and other cryptos, have on multiple occasions requested for the KYCs of those under suspicion or investigations, and the crypto exchanges granted their requests and that is how Bitcoins that were stolen years ago were tracked to specific hackers and thieves.

All Bitcoin transactions are therefore NOT hidden like a LOT of ignorant posters on and off NL like to claim with BOGUS confidence.

If you have clean transactions on those crypto exchanges, then you have absolutely nothing to worry about.

CountinBlessins:


You have a habit of commenting even when it is obvious you don't fully grasp the topic.
Why not keep quiet let those who are well educated and have a proper understanding comment ?

clems88:
Omo Na to follow you hide o 😂😁

PepeXKermit:
if you have/had/transacted with Biannce in the past, my advice to you is to remove the money you have in your bank account.. They are coming for you.
I dont know how this affects nigerians in Diaspora who used naira P2P