Tinubu Govt Orders Binance To Provide Transaction Details Of 100 Top Users

The Tinubu-led Federal Government has reportedly asked cryptocurrency trading firm, Binance, for information on its top 100 users in Nigeria.

The government, through the Office of the National Security Adviser (ONSA), made the request to establish the negotiations between Binance and Nigeria.

According to the Financial Times, the Nigerian government also asked the cryptocurrency firm to submit all transaction history in the country for the past six months.

Also, the government is asking Binance to resolve any outstanding tax liabilities in the country in order to meet its negotiation requirements.

Recall that the Federal Government clamped down on Binance for allegedly undermining its efforts to stabilise the naira and arrested three executives of the firm.

In a television interview, the Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, said Binance and other crypto platforms should be prohibited from operating in Nigeria.

He alleged that Binance was “blatantly setting exchange rate for Nigeria,” and hijacking the role of the Central Bank of Nigeria (CBN).

Following Onanuga’s statement, the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, said $26 billion passed through Binance from unidentified sources.

Cardoso said the apex bank, the Securities and Exchange Commission (SEC), and security agencies were working together to prevent manipulation in the foreign exchange (FX) market.