Nigeria reportedly demands $10 billion in damages from Binance: BBC
The Nigerian government has reportedly demanded at least $10 billion from Binance due to its crackdown on cryptocurrency exchanges and the devaluation of its currency.
The news was shared by President Bola Tinubu’s Special Adviser on Intelligence and Strategy, Bayo Onanuga, in an interview with the BBC. Onanuga claims Binance profited from “illegal transactions” at the country’s expense.
According to multiple reports, Binance is already under investigation in Nigeria. “I confirm that the Office of the National Security Advisor, together with the CBN and other law enforcement and security agencies, is coordinating an inter-ministerial investigation into Binance’s operations as part of its ongoing operations in the foreign exchange market,” said Representative Zakari Mijinyawa. . The Director of Strategic Communications in the Office of the National Security Advisor told Premium Times.
Binance executives were also reportedly detained by Nigeria earlier this week.
The exchange reportedly removed the Nigerian currency, Naira, from its P2P services.
The Block will contact Binance to update this report.
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