As investigations by the Government of Nigeria into the activities of Binance continues, the Cryptocurrency giant has been asked to provide informations on the transactions history of its Top 100 Users in the country.
Binance is alleged to have been involved in speculative attacks against the Naira which had witnessed unmatched volatility against major currencies particularly the Dollar in recent times amid a currency devaluation by the CBN.
It was also reported that the Office of the National Security Adviser, Nuhu Ribadu has demanded that the company pay off any outstanding tax liabilities to the federal government during its operations in the country.
Binance and other cryptocurrency websites are at the centre of the storm as Nigeria seeks to find a way out of its worst economic crisis in three decades and restore its citizens’ faith in its legal tender.
In the heat of the matter, security agencies in collaboration with officials from the Securities and Exchange Commission (SEC) as well as the Central Bank of Nigeria (CBN) blocked web access to cryptocurrency exchanges and detained two Binance executives who had flown to Abuja to have a discussion with the government.
In response, Binance discontinued its Naira Services.