[Crypto] Nigeria high court demand Binance to submit Nigeria users data.

[Charles-Tim]

I would have been disappointed if they had sentenced him to Prison without fair trial. Having him go through the judiciary process is still within the rules. His case isn't looking good and there's a high possibility of him spending time In prison except Binance plead guilty to the allegations and pay due fine.

Let us see what the court will come up with as judgement, but I see them all on one side. I have the government and the regulators to blame and they have shown hostility towards foreign centralized exchanges. I see the government as people that are not wise at all. If they are wise, they should have seen exchanges as not regulated enough and which calls for regulation instead of acting like a boss.

The Naira has been gaining against the dollar since last month, whatever the CBN is doing it's working for them. We're likely going to see 900/$1 by next week or even less.

You do not understand what has just happened with the naira deflation. There is naira deflation but there is food and local products inflation. A stable economy is better than what is happening. Know that some people are gaining more while some people are losing more right now in their business, instead for it to balance, it is no more balanced.

[Igebotz]

I would have been disappointed if they had sentenced him to Prison without fair trial. Having him go through the judiciary process is still within the rules. His case isn't looking good and there's a high possibility of him spending time In prison except Binance plead guilty to the allegations and pay due fine.

Let us see what the court will come up with as judgement, but I see them all on one side. I have the government and the regulators to blame and they have shown hostility towards foreign centralized exchanges. I see the government as people that are not wise at all. If they are wise, they should have seen exchanges as not regulated enough and which calls for regulation instead of acting like a boss.

I believe other exchanges agreed with the FG's requests, therefore NGN P2P is still running on those platforms; however, the FG may have been sceptical of Binance 2p2 due to their high trading volume. To be honest, Binance p2p always has the highest rates when compared to other exchanges, hence the Naira manipulation could be accurate. There were those Marchants who engaged in price manipulation, and these sorts are always at the top, and in order to meet demand, others raise rates as well. This is why the EFCC is particularly interested in the TOP 100 traders, as they were the main players in the price manipulation.

You do not understand what has just happened with the naira deflation. There is naira deflation but there is food and local products inflation. A stable economy is better than what is happening. Know that some people are gaining more while some people are losing more right now in their business, instead for it to balance, it is no more balanced.

Price of things will not crash immediately but gradually - people are still selling goods they bought at 1800-1900 and you don't expect them to sell them at the current rate. They will have to restock goods at the current rate to reduce prices of goods. It's a Basic Economics

Price of Electronics have already crashed by more than 50% I confirmed this yesterday.

[Charles-Tim]

To be honest, Binance p2p always has the highest rates when compared to other exchanges, hence the Naira manipulation could be accurate.

Are you minding the government? Why did Cardoso increased the rate also? The government manipulated and who will question them? The government earn more in naira as they sell crude oil and petroleum byproducts to foreign countries and see more money in naira to pay workers and also for year budgets. They fulfilled their intentions and started appreciating the price of naira.

Price of Electronics have already crashed by more than 50% I confirmed this yesterday.

I think this is true, but local products prices are not decreasing while some are increasing. You are not wrong that we should give the government more time and see if there will be deflation also in food and other local product prices.

[Igebotz]

To be honest, Binance p2p always has the highest rates when compared to other exchanges, hence the Naira manipulation could be accurate.

Are you minding the government? Why did Cardoso increased the rate also? The government manipulated and who will question them? The government earn more in naira as they sell crude oil and petroleum byproducts to foreign countries and see more money in naira to pay workers and also for year budgets. They fulfilled their intentions and started appreciating the price of naira.

We're seeing the real price of Naira against the Dollar for the first time since 1960. All what the past government has been doing is subsidizing the Naira with Billions of Naira to stay relevant in market since the country depends on export to eat. The Naira floating was long overdue but the current administration didn't take appropriate precautions before floating and stoping Naira subsidy.  I didn't think it was a deliberate act, it was a foolish move.

[Cryptsafe]

News has it that the binance escapee has been traced to Kenya and the Nigeria government is working on extraditing him to Nigeria to face his music here.

My question now is this, Would the Kenya government collaborate with the Nigeria government to take such action against him looking at the fact that he is a British-Kenyan dual national and also looking at his affiliation with binance which is believe the Kenya government would want to take advantage of his position to upgrade or adopt Crypto.

https://thekenyatimes.com/africa-news/manhunt-launched-as-nigeria-traces-binance-executive-in-kenya/

[Charles-Tim]

News has it that the binance escapee has been traced to Kenya and the Nigeria government is working on extraditing him to Nigeria to face his music here.

It was traced to Kenya but after he landed in Kenya, he went on hiding. The EFCC and Police are talking about extraction when the man has not even been seen.

My question now is this, Would the Kenya government collaborate with the Nigeria government to take such action against him looking at the fact that he is a British-Kenyan dual national and also looking at his affiliation with binance which is believe the Kenya government would want to take advantage of his position to upgrade or adopt Crypto.

If he committed obvious crime like killing or abduction if someone in Nigeria, it will not matter if he is from Kenya or not, but what crime did he actually commit and he is not even Binance CEO which what Nigeria is planning can affect the most in relation to arresting.

[Cryptsafe]

News has it that the binance escapee has been traced to Kenya and the Nigeria government is working on extraditing him to Nigeria to face his music here.

It was traced to Kenya but after he landed in Kenya, he went on hiding. The EFCC and Police are talking about extraction when the man has not even been seen.

My question now is this, Would the Kenya government collaborate with the Nigeria government to take such action against him looking at the fact that he is a British-Kenyan dual national and also looking at his affiliation with binance which is believe the Kenya government would want to take advantage of his position to upgrade or adopt Crypto.

If he committed obvious crime like killing or abduction if someone in Nigeria, it will not matter if he is from Kenya or not, but what crime did he actually commit and he is not even Binance CEO which what Nigeria is planning can affect the most in relation to arresting.

I still have been pondering on what the offense of this man is. I believe government is just using him as bait to get at binance to send them the full list if Nigerians registered onboard their platform .  He is not the CEO of binance to be much after by the federal government.

With respect to the fact that the Kenyan government would cooperate with the federal, I think it is likely that the government might likely look into it but not with any form of commitment because the case or crime is not as heinous as they Nigeria government projected it to be. Come to talk of it, he did not kill anybody just as you have said.
The EFCC was quick to announce to have traced him without apprehending him because they have not seen him and do they think the Kenya government would cooperate for his arrest or they would just keep mute over it and just watch as the EFCC do their findings.

[Igebotz]

If he committed obvious crime like killing or abduction if someone in Nigeria, it will not matter if he is from Kenya or not, but what crime did he actually commit and he is not even Binance CEO which what Nigeria is planning can affect the most in relation to arresting.

I still have been pondering on what the offense of this man is. I believe government is just using him as bait to get at binance to send them the full list if Nigerians registered onboard their platform .  He is not the CEO of binance to be much after by the federal government.

With respect to the fact that the Kenyan government would cooperate with the federal, I think it is likely that the government might likely look into it but not with any form of commitment because the case or crime is not as heinous as they Nigeria government projected it to be. Come to talk of it, he did not kill anybody just as you have said.
The EFCC was quick to announce to have traced him without apprehending him because they have not seen him and do they think the Kenya government would cooperate for his arrest or they would just keep mute over it and just watch as the EFCC do their findings.

Binance's CEO cannot be present at all times, therefore he has people representing him on each continent where the company operates, and these reps accept complete responsibility for whatever happens on that continent. He came to Nigeria representing Binance in full capacity with his colleague, the head of investigation and crime, and managed to pay off some security personnel before being broken out of custody and returning to his home country without his travel documents, which is a major felony. If the Nigerian government wants him, Interpol will extract him, and the Kenyan government cannot do anything. No country in Africa will want to be in Nigeria's bad books.

[Tribalchief]

The federal high court sitting at Abuja has asked Binance to cooperate with the Nigeria Government and give data of all users to the Govemment.

What do you guys think? Will Binance defy to grant a local law request? 

https://cointelegraph.com/news/nigerian-court-binance-disclose-user-data

I'm not too familiar with how the law works, but I believe that giving out users' data to a third party is strictly against the terms that govern the internet in general. However, we know that some companies secretly sell users' data to research institutes and others. If a user chooses to use your service and undergo verification, it's the duty of those in charge to keep the identity and data of that user safe. The government of Nigeria has no right to obtain the data of every user unless every user who uses Binance in Nigeria is under investigation.

Unfortunately, I can't even tell if Binance would comply with their demand, knowing fully well that Binance is short of Nigerians and would love to have them back. Anything can literally happen as long as everyone is making a profit, which means Binance might also request the government to lift the ban in exchange for the data of users.

Just saying...

[Igebotz]

The federal high court sitting at Abuja has asked Binance to cooperate with the Nigeria Government and give data of all users to the Govemment.

What do you guys think? Will Binance defy to grant a local law request? 

https://cointelegraph.com/news/nigerian-court-binance-disclose-user-data

Unfortunately, I can't even tell if Binance would comply with their demand, knowing fully well that Binance is short of Nigerians and would love to have them back. Anything can literally happen as long as everyone is making a profit, which means Binance might also request the government to lift the ban in exchange for the data of users.

Just saying...

Binance follows local rules in the jurisdictions in which they operate, however I'm not sure if such governments have the right to demand personal data. Binance is not in a good position to request anything right now; either they agree with the demand or the Nigerian government, as usual, takes the rules into their own hands.

I doubt we will ever see Naira trading pairs on any exchange again, at least not under the current government. Binance remains a safe trading platform and continues to provide services to Nigerians.

[Agbe]

Binance follows local rules in the jurisdictions in which they operate, however I'm not sure if such governments have the right to demand personal data. Binance is not in a good position to request anything right now; either they agree with the demand or the Nigerian government, as usual, takes the rules into their own hands.

I doubt we will ever see Naira trading pairs on any exchange again, at least not under the current government. Binance remains a safe trading platform and continues to provide services to Nigerians.

And that is one of the conditions for the Binance official to be released. And I don't think Binance was following.or obeying the rules of the local economy and that is why they are having problems here and there. And I was hearing from the network CEO that they will obey all the countries they are operating in the laws to have good relationship with them. And really if Binance was following and obeying the laws of the land they wouldn't not have issues with the countries they were operating. But they were playing smart game but it hook them for throat. And Binance might release the personal information of the users in their platform to the Nigerian government because they did they have to do anything to release their staff.

[Igebotz]

Binance follows local rules in the jurisdictions in which they operate, however I'm not sure if such governments have the right to demand personal data. Binance is not in a good position to request anything right now; either they agree with the demand or the Nigerian government, as usual, takes the rules into their own hands.

I doubt we will ever see Naira trading pairs on any exchange again, at least not under the current government. Binance remains a safe trading platform and continues to provide services to Nigerians.

And that is one of the conditions for the Binance official to be released.

The rep has been sent to prison awaiting trial It's not longer in EFCC right to decide wether to release him or not even if the documents are released. Binance is facing multiple charges so it's not longer a case of P2P users data. He's going to be given a fair trial

[Cryptsafe]

If he committed obvious crime like killing or abduction if someone in Nigeria, it will not matter if he is from Kenya or not, but what crime did he actually commit and he is not even Binance CEO which what Nigeria is planning can affect the most in relation to arresting.

I still have been pondering on what the offense of this man is. I believe government is just using him as bait to get at binance to send them the full list if Nigerians registered onboard their platform .  He is not the CEO of binance to be much after by the federal government.

With respect to the fact that the Kenyan government would cooperate with the federal, I think it is likely that the government might likely look into it but not with any form of commitment because the case or crime is not as heinous as they Nigeria government projected it to be. Come to talk of it, he did not kill anybody just as you have said.
The EFCC was quick to announce to have traced him without apprehending him because they have not seen him and do they think the Kenya government would cooperate for his arrest or they would just keep mute over it and just watch as the EFCC do their findings.

Binance's CEO cannot be present at all times, therefore he has people representing him on each continent where the company operates, and these reps accept complete responsibility for whatever happens on that continent. He came to Nigeria representing Binance in full capacity with his colleague, the head of investigation and crime, and managed to pay off some security personnel before being broken out of custody and returning to his home country without his travel documents, which is a major felony. If the Nigerian government wants him, Interpol will extract him, and the Kenyan government cannot do anything. No country in Africa will want to be in Nigeria's bad books.

Of a truth no African country would want to be in the bad book of Nigeria but I was also thinking, as it is now that he is well known to be a representative of binance here in Nigeria,  do you not think he is likely going to be an asset to his country which would make them not to give in to the Nigeria government. Although what he did is against the laws of the land for bribing his way to fleeing without his international passport. But do you not think that there are some hidden faces and names behind his escape because such a thing can not just happen just like that. The monkeys hand is indeed inside the pot of soup.

[Charles-Tim]

Today, Binance case has been adjoined to May 17. EFCC has also accused Binance of money laundering.

Judge Emeka Nwite adjourned to May 17 when he will give a ruling.
In addition to the tax evasion trial, Binance and the executives have also been charged with laundering more than $35 million by Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), in a trial that will resume on May 2.

Of a truth no African country would want to be in the bad book of Nigeria but I was also thinking, as it is now that he is well known to be a representative of binance here in Nigeria,  do you not think he is likely going to be an asset to his country which would make them not to give in to the Nigeria government. Although what he did is against the laws of the land for bribing his way to fleeing without his international passport. But do you not think that there are some hidden faces and names behind his escape because such a thing can not just happen just like that. The monkeys hand is indeed inside the pot of soup.

Nnamdi kanu was working freely abroad (outside Africa) when Nigeria government was looking for him to be arrested. He was later arrested in Kenya. There is a man that if he gets to US today, he will be arrested, but he is in Russia living his life freely. There are cases like this as there will be exceptional cases. What a country will take as illegal or blame will not be taken by another country as illegal or blame. But I always doubt Africa countries.

[Agbe]

I also saw a flash news today but I can't recall the social media platform I got the news because I was in hurry to church. And the news says that for the crackdown some of the exchange in the country after Binance to make sure that the naira would go back to his normal price. EFCC and FCCPC are working hard to crackdown some more f the of the exchange and Superstores that are still charging high when the dollar has come down. FCCPC dey seal store at Abuja while EFCC dey investigate the exchanges that are still manipulating the naira in the exchange market. And anything they will do to make the Naira appreciate i support am. And one of the minister, I don forget di name, he say from next month dollar will be useless in di country. So if anyone still dey keep naira in dollars then they should change it now. and another News again today, and I screenshot di image but I go put di images for the appropriate thread which I don create an before.but let me.just cap weti dem tok. Dem tok say those people weti dey deal on cryptocurrency e don loss well well because of the naira dey appreciate.and na true. When I tok dat thing in my thread some people disagree.with me.