News

Court orders Binance to release data of Nigerian users to EFCC

today03/18/2024 2

Background
share close

Federal High Court in Abuja has ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission with comprehensive information on all persons from Nigeria trading on its platform.
The court handed down the order in an ex-parte motion filed by the EFCC demanding information about Nigerians trading on Binance.
In the affidavit in support of the motion deposed to by an operative of the EFCC, Hamma Bello, he stated that the Special Investigation Team of the commission domiciled in the Office of the National Security Adviser received intelligence that money laundering and terrorism financing was carried out on Binance.
He said, The Special Investigation Team of the commission domiciled in the Office of the National Security Adviser received an intelligence stating the nefarious activities (money laundering and terrorism financing) on Binance, a cryptocurrency exchange platform.
Bello also said the team uncovered some users whose activities on Binance resulted in the country’s currency losing its value against other currencies.
He said, That the team uncovered users who have been using the platform for price discovery, confirmation and market manipulation which has caused tremendous distortions in the market, resulting in the Naira losing its values against other currencies.

Written by: bossgmsi

Rate it

Previous post

World

Chinese President sends in congratulatory message to Vladimir Putin

Chinese President Xi Jinping has sent a congratulatory message to Vladimir Putin on Monday, while describing his re-election as a full reflection of the support of the Russian people. Following the official election data showed on Monday by the state news agency,Putin had secured 87.33 percent of all votes cast. It was a record victory for Putin in a presidential election where he faced no genuine competition. However, the polls […]

today03/18/2024 4

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *

0%
Our customer support team is here to answer your questions.
error: Alert: Content is protected !!