Nigerian government demanded $10 billion from Binance

In Nigeria, where the pressure against the Binance company has intensified recently, the government has now demanded a payment as high as 10 billion dollars from Binance. Bayo Onanuga, information and strategy advisor to President Bola Tinubu, said in a statement; He said that Binance provides an opportunity for illegal transactions and has a negative and significant impact on the country’s financial ecosystem.

Among the accusations are allegations that Binance manipulated dollar-naira rates, which negatively affected the country’s local currency.

An investigation was also opened

Following this statement, a statement about Binance came from another government institution of Nigeria. The National Security Office (ONSA) officially announced that an investigation has been launched into Binance’s activities. ONSA Head of Strategic Communications Zakari Mijinyawa also informed that there is an inter-institutional study to examine Binance’s activities in Nigeria.

Executives in custody: Embassy request

On the other hand, it was stated that two Binance senior executives were detained in Abuja, the capital of Nigeria. It was stated that the authorities requested data regarding the exchange’s Nigerian naira from the two managers, but their requests were not met. It was reported that this situation created chaos and the authorities eventually detained the two managers. It is stated that senior executives also want their country’s embassies to intervene in the incident.

The talks did not yield results

As you may remember, Binance stated in a statement last week that it wanted to comply with the regulations in Nigeria and said, “We aim to serve users in an environment determined by the market. “We are also working with the local government,” he said. Despite this, it seems that the government is not convinced and a huge figure of 10 billion dollars is demanded from the stock market.

Binance recently paid a $4.3 billion fine to the US government in a lawsuit filed on many charges, including not adequately combating money laundering.

Nigeria is considered Africa’s largest market for person-to-person crypto payments, also known as P2P.