And u are the director

atiku4President:
They wrote the entire script they are acting. We Nigerians are not foolish.

Hmm

Catsofnaija:

The recent arrest of Binance executives in Nigeria has cast a long shadow over the future of cryptocurrency in the country. Central to the controversy are accusations of money laundering leveled against the exchange. The recent allegations of money laundering against Binance have stirred considerable debate and raised questions about the future of cryptocurrency exchanges in Nigeria.

This article aims to delve into the intricacies of these charges, examining their connection to recent arrests and their potential ramifications for Binance's operations in the country.

The Money Laundering Accusations and Tax Evasion Accusition

Nigerian authorities accuse Binance of facilitating money laundering activities to the tune of $35.4 million. The specifics remain unclear, but potential scenarios include:

Unknowingly Processing Illicit Funds: Binance, like many cryptocurrency exchanges, operates globally. It's possible that bad actors could have used Binance's platform to launder funds without the exchange's knowledge. Strong KYC (Know Your Customer) procedures are crucial in preventing this, but their effectiveness in a decentralized system like cryptocurrency is a matter of debate.
Facilitating Transactions for High-Risk Users: Binance might have knowingly or unknowingly facilitated transactions for individuals or entities on sanction lists or with a history of suspicious activity. This could be a consequence of weak customer due diligence procedures.
Tax Evasion: The Nigerian government also accuses Binance of failing to:

pay corporate income tax
Pay value-added tax (VAT) on transactions
File tax returns
Facilitate tax compliance for its users
The Arrests and Potential Defenses

The arrests of Binance executives appear to be a tactic to pressure the exchange into cooperating with the investigation and potentially negotiating a settlement. Binance could potentially defend itself by:

Demonstrating robust KYC and AML (Anti-Money Laundering) compliance measures.
Cooperating fully with the investigation and providing transaction data to identify any suspicious activity.
Arguing that any illegal activities were conducted by users beyond their control.
Binance might argue they are not subject to Nigerian corporate tax due to their lack of a physical presence in the country. However, the VAT and user tax facilitation accusations could still hold weig
The Future of Binance in Nigeria

The outcome of this case will significantly impact Binance's future in Nigeria. Here are some potential scenarios:

Continued Operations: If Binance successfully defends itself against the money laundering charges and demonstrates a strong commitment to compliance, it might be allowed to continue operating in Nigeria, potentially with stricter regulations.
Restricted Operations: The Nigerian government might impose limitations on Binance's operations, such as restricting user verification or limiting daily transaction amounts.
Exit from the Market: In the most drastic scenario, Binance could be forced to exit the Nigerian market entirely.
Impact on the Nigerian Crypto Landscape

The Binance case has broader implications for the Nigerian cryptocurrency landscape:

Increased Scrutiny: Regulatory bodies in Nigeria are likely to intensify their scrutiny of all cryptocurrency exchanges operating in the country. This could lead to stricter KYC and AML regulations across the board.
Uncertainty for Users: The case creates uncertainty for Nigerian cryptocurrency users, who might face limitations in accessing exchanges or difficulties in transacting.
Potential for Growth: Despite the challenges, the Binance case could also act as a catalyst for developing a clearer and more comprehensive regulatory framework for cryptocurrency in Nigeria. This could ultimately foster a more secure and vibrant cryptocurrency ecosystem in the long run.
The future of Binance in Nigeria remains uncertain. The outcome of the legal case and the Nigerian government's response will be crucial in determining the impact on both the exchange and the wider Nigerian crypto space. Regardless of the outcome, one thing is clear: robust KYC and AML procedures will be essential for cryptocurrency exchanges operating in Nigeria, or anywhere for that matter.
Source: https://mascotlegal.com.ng/2024/04/22/is-binance-leaving-nigeria-money-laundering-tax-evasion-charges-explained/

Which one is visual arrest?

AmuOtu:
Audio arrest.

Sassenach:
Bobrisky was recently sentenced to six months in prison and we all know that the reason for this cruel and unusual punishment has nothing to do with the mutilation of the Nigerian currency. I am deeply disappointed that in 21st century 2024, a country that gained its independence in 1960, is truly not free. The turn of events with Bobrisky is unjust and uncalled for.

I am glad that the international community is taking on this matter. I hope that the Nigerian government is able to reconsider its stance, as this is a matter of humanitarian crisis.

It has been reported that the very dark man has become emboldened and has even started threatening other cross dressers in Nigeria. We have called on pertinent stakeholders, both nationally and internationally to investigate this man and put him on a no fly list. Those celebrities that are associated with him and continue to cheer him on will not be spared.

I am using this medium to call on every influential person in Nigeria is care about human rights to use their platform to create awareness and intervene. More to come.

MUG.U

Since morning mtn is down over here in yenegoa

budaatum:


No, I am not in support of "how the binance is use for fraud and kiling our naira", if they have done what you suggest. I am not in support of Nigeria holding people without charge neither.

If they did what you suggest, then charge them with the crime. Refuse them bail even. Don't just throw people in jail without charge is what I do support.

Bro there are so many unlawful detection even ki-llings the so called countries we think that they followed law and oders do for the interest of their country, u will be surprised

budaatum:


So, he's kidnapping them till they pay ransom?

Not very good for Nigeria's future when we kidnap investors and ransom them. On release they can sue for wrongful arrest and make Nigeria pay, and their experience will chase investors away.

Are u in support of how the binance is use for fraud and kiling our naira? Sometimes it takes a government to break law's and orders to cumb cuprit and criminals

Black man with drama and attention too much

Pointless point, How about the End sars igbo join, they even took it personally by destroying so many properties

Chygoz1994:
We don’t want what happened in 1966 to repeat itself that lead to the death of 3millon igbos.
We don’t want what happened during end sars to repeat itself again and they will put all blame to igbos
You can add yours thank you

9month now still now positive change from this government.

Hmm

You catch out and still go and buy the rice 70k and still buy and pay high bills with the money.

Felimax:
If you are an Igbo man or a Wiseman and you are not catching out please reposition yourself ASAP!

12 years will not be enough he should do 16 years.

Where did buy them?, should be a mandatory focus

Thank God is not DSS or Fulani any more

Opintiwa:
Another early morning propaganda.

The news was different from vanguard just yesterday.

Seewahala come and see o 😂😂😂😂😂😂😂

Though wickedness is not about who has money or not, Rich or poor kill not because of money, but becos of selfishness, greed, and lack of anger management. So my dear let the poor breath

Jennyclay:
Oh no!! Not again .

God knows I have absolutely nothing to do with a broke man. If you’re a broke man and you approach me, the way I will talk to you, you will regret the day your useless father ever gave birth to you .

Just look at what this broke animal did to a lady and her mother because of 7k Biko, the court should kindly sentence the broke animal to death ASAP!! He’s a threat to women in the society

Wicked and evil men!!

Nothing affect him

Dnet7:
This man is always making point

Making point he can't do, leave that hypocrite guy, a clear example wot he did to yougi duu

Izuchukwu70:



You're not serious. You have 2 kids with another one on the way and a wife on 400k Salary?? How much do you pay for accommodation annually? How much is the school fees annually? You can't have savings on that money.

Bitter truth

THIS ARE SURPOSE TO BE THE MASSES SERVANT, BUT IT'S IN THE OTHER WAY ROUND

A WOMAN DESIRE IS TO RULE A MAN, IMMEDIATELY SHE GET SUCH OPPORTUNITY IN SOCIETY OR HER FAMILY,U SEE SEVERAL CONTROL, COMMAND, LOUSINESS. THAT WOMAN FOR U.

Obascoetubi:
F L A T I NO 0 won't like this.

Was sad cos no money to cook this new year, this ur comment just make burst laugh, which be F L A T I N O

Obascoetubi:
F L A T I NO 0 won't like this.

Trouble maker

phorget:




At least they haven't flogged your own parents, wait until they start flogging them before you complain. This is 2024 and it would be best for you not to cry more than the bereaved.

Have u not be crying more than the bereaved in the cases of others? Hypocrite?

God1000:
Good gesture, but Why are those food items customized?

That's will tell u his intense, always looking for way to manipulate the poor people mind with their selfish politics game.

HeightsKE:

Compliments of the season oga.
Sorry for this disturbance.
Please I recently had my big luthian generator serviced by this oga's boy.

Usually after a long time,I just service it and use but this time,the boy told me I need to change the "valve".
I ultimately gave him money to change the valve and still didn't start.
Then he suddenly went to get a sparkplug and immediately,it started.
Now we had to throw away the old plug and he got one for #400!

Just few days now,the generator stopped working and won't start.
In addition to that,the gen now has a stronger pull and pull back when I want to start it which wasn't like that before.

With this current economy,I am thinking of selling it to buy those small imported Honda generator that uses step down. Or do you think I should get a more good plug?
Thanks oga

I greet u sir, the strong pull is still from the valve settings and that can still be cause of hard starting, but does the gen brink out white smooke?

SO BIAFRA DON ACCEPT TINUBU HAS THEIR PRESIDENT

Let start eating mosquito and see if it will scars

gladdensir:
Mumu achievement

E PAIN AM

Beremx:
I see nothing wrong with it. She's helping to make the first lady beautiful.
Still better than carrying handbag or food for madam.

Very wrong pls, the police surpose to be alert protecting her not caring out domestic activities

surefx:


Thanks. I was hoping to not have to do that. I may not have any other option. There are some very wicked people in this part of the world.

Ur health matter