I heard a rumour about Binance in Nigeria

[Cantsay]

They can negotiate their way. Nothing is impossible though. So let's see how it unfolds..

All they have to do is to wait for a change in government (one that knows its left from right) and they would be able to come back again.

Nigeria, is not a country that they can just leave without figuring a way to sort out the problem - it might take a while for an agreement to be reached but surely one day we will see Binance list NGN in their exchange again.

Trust me if they really wanted to settle this case, it would have been done since but I believe there could be a curvy mystery on why the government are still tightly holding this matter.

With the way the whole thing started I don’t think it was something that could have easily being swept under the carpet and resolved - do you remember, that two of Binance representatives were illegally held here in Nigeria (I’m not sure how the issue was handled) and that action that the Government did contributed to what everything now look complicated.

What government are we talking about, we are still in the first phase of this bad government and trust me he will be going back for another 4 years which he will imply same trick to get back his position, everything is a total mess.

Nah! With what citizens have experienced I don’t think them coming back is a possibility - it might have been possible if they had work a bit but since the whole economy has never moved forward since the government step into office it will be really challenging for them to return again - unless some people are still foolish to sell their votes.

[Makus]

Its a rumour and can just be a false one for that matter. The possibility of binance coming back to Nigeria is very low, as the government is still fight exchanges and almost all exchange has stopped their p2p trading, only few still manage to do their p2p transaction with our local fiat. Anyway it's possible they might reconsider removing the crypto restriction and allow exchanges to perform p2p with Naira but the chances of binance coming back to Nigeria is unpredictable and as it seem almost impossible after all they have gone through.

[Roseline492]

Its a rumour and can just be a false one for that matter. The possibility of binance coming back to Nigeria is very low, as the government is still fight exchanges and almost all exchange has stopped their p2p trading, only few still manage to do their p2p transaction with our local fiat. Anyway it's possible they might reconsider removing the crypto restriction and allow exchanges to perform p2p with Naira but the chances of binance coming back to Nigeria is unpredictable and as it seem almost impossible after all they have gone through.

For now nobody knows the faith of those exchanges in terms of coming back to the country because our government has different perception on the whole thing because they believe that the reason why naira was drastically falling was because of binance, and as the price keeps increasing that is the more prices of commodities keeps increasing so the government feel that the only way to stabilize the price is by stopping P2P trading, though at first it worked but now it has started going up again.

Though I heard that the government demanded a certain amount of money for tax before they could allow them operate in Nigeria but binance refuse, so perhaps if that's true there is a good chance or the possibility for binance to return back to the country only if they will agreed to the teams and conditions of the government.

[EluguHcman]

While the news has not been publicly published, I will also agree that there would be returning of Binance exchange back to Nigeria because while the US government is stretching on the freedom of the detained Binance executive, so also they could dialogue to reach understanding for the exchange to return back the naira P2P trading feature.

Recalling that Nigeria is also a dominance crypto adoptions in the world, the Binance as well may not be affordable to loose such users whom had contributed the most dominance of the exchange platform when considering centralized networks for digital tradings.
So there will surely be a time for both sides dialogue.

[Charles-Tim]

While the news has not been publicly published, I will also agree that there would be returning of Binance exchange back to Nigeria because while the US government is stretching on the freedom of the detained Binance executive, so also they could dialogue to reach understanding for the exchange to return back the naira P2P trading feature.

I hope the government and the SEC will not continue to be like how they are doing as they seem more so illiterate about crypto regulations. Also Binance wanted regulation now but some leaders wanted bribery. This is what that is hindering the progress of this country. What that supposed to be the benefit of a whole country, some leaders are greedy and only want to benefit from it instead. This corruption of a thing might make Binance find it difficult to start naira P2P again.

[Cantsay]

Though I heard that the government demanded a certain amount of money for tax before they could allow them operate in Nigeria but binance refuse, so perhaps if that's true there is a good chance or the possibility for binance to return back to the country only if they will agreed to the teams and conditions of the government.

I thought the tax was for tax evasion - Binance employees who were detained here were being charged with tax evasion and not for Binance to pay tax in other to continue their operation here.

If NFG had specified an amount for Binance to pay in other to keep operating it would have been better and they would have settled everything since - but they didn't instead they just want to create a clown show.

[Cryptsafe]

Though I heard that the government demanded a certain amount of money for tax before they could allow them operate in Nigeria but binance refuse, so perhaps if that's true there is a good chance or the possibility for binance to return back to the country only if they will agreed to the teams and conditions of the government.

I thought the tax was for tax evasion - Binance employees who were detained here were being charged with tax evasion and not for Binance to pay tax in other to continue their operation here.

If NFG had specified an amount for Binance to pay in other to keep operating it would have been better and they would have settled everything since - but they didn't instead they just want to create a clown show.

I actually never wanted to comment any further on this matter but I think I should just say this. Tax or no tax, the Nigeria officials that detained the binance officials were just after their pockets. They weren't there on behalf of the federal government but for their stomach infrastructure. Did you not hear when the binance CEO was saying it in an interview that they approached him to give them bribe so that they would close the case once and for all. ? Who on earth would have that gots to do so when the federal government is involved but here the reverse is the case. If not that the US got involved in the matter, I believe the case would still be lingering without any way forward.
Even if binance agrees to pay tax now,   the money would go into the pockets of the powers that be.

[Fivestar4everMVP]

Looking at the situation of things, technology keeps and will keep getting better by the day and government will keep changing and as things stands one of the marketing leads in from Binance has told some folks in Nigeria(no publicly) that Binance will still come back to Nigeria but not now and he can't tell when, but Binance will surely come back to Nigeria again.

Well, definitely, I personally have no doubt that Binance will be back to Nigeria, this is a sure fact because crypto adoption is growing really fast, and a time is coming when the Nigerian government will realize that they are missing alot by driving crypto companies away from Nigeria, knowing fully well that they can be making some really good money by taxing this companies.

So, Las Las, they will embrace crypto with both arms, allowing big crypto companies and corporations have build and have head offices, branches in Nigeria like the likes of MTN and Co.

[EluguHcman]

I have also heard that news last month and I will only use Binance if they comply to the local rules. And tell their vendors not to manipulate the naira again. It the the dollar is 1500 let them use the exact amount to trade and not to inflate it and couldn't pay for it and to deceive people. And if everything is settled and they finally comes back without the manipulation, I will use it but if the vendors are still not genuine then I will not use it.

Smiles. Was it really true that binance was manipulating the naira values as accused? I probably don't think so otherwise the government would not just had asked them to pay that huge amount of money as a fee to keep letting them use the naira in their p2p. The naira manipulation accused came when Binance persisted not to pay the fee so the government took a different measures leading to the action.
Just remember that our government does not allow nothing to go for nothing.

[Makus]

I have also heard that news last month and I will only use Binance if they comply to the local rules. And tell their vendors not to manipulate the naira again. It the the dollar is 1500 let them use the exact amount to trade and not to inflate it and couldn't pay for it and to deceive people. And if everything is settled and they finally comes back without the manipulation, I will use it but if the vendors are still not genuine then I will not use it.

Smiles. Was it really true that binance was manipulating the naira values as accused? I probably don't think so otherwise the government would not just had asked them to pay that huge amount of money as a fee to keep letting them use the naira in their p2p. The naira manipulation accused came when Binance persisted not to pay the fee so the government took a different measures leading to the action.
Just remember that our government does not allow nothing to go for nothing.

It's obvious the accusation are not true because binance has been cut off from making  p2p transactions with our fiat currency for long and yet the price of Naira to dollar is still appreciating. The government knows the best solution to this problem but yet they make it seem as though cryptocurrency is the cause. I kinda feel that, them removing the restriction in the first place was all planned as set up to put the Balme on crypto for the inflation we are experiencing. Though this might be wrong, but there's nothing they cannot do.

[Agbe]

I have also heard that news last month and I will only use Binance if they comply to the local rules. And tell their vendors not to manipulate the naira again. It the the dollar is 1500 let them use the exact amount to trade and not to inflate it and couldn't pay for it and to deceive people. And if everything is settled and they finally comes back without the manipulation, I will use it but if the vendors are still not genuine then I will not use it.

Smiles. Was it really true that binance was manipulating the naira values as accused? I probably don't think so otherwise the government would not just had asked them to pay that huge amount of money as a fee to keep letting them use the naira in their p2p. The naira manipulation accused came when Binance persisted not to pay the fee so the government took a different measures leading to the action.
Just remember that our government does not allow nothing to go for nothing.

It's obvious the accusation are not true because binance has been cut off from making  p2p transactions with our fiat currency for long and yet the price of Naira to dollar is still appreciating. The government knows the best solution to this problem but yet they make it seem as though cryptocurrency is the cause. I kinda feel that, them removing the restriction in the first place was all planned as set up to put the Balme on crypto for the inflation we are experiencing. Though this might be wrong, but there's nothing they cannot do.

I don't think the accusations were not true. The accusations were true even the 10 millions naira was legit because of it was not true national newspaper would not published it. It was true but Nigeria government denied them mostly the 10 millions naira fine. Government is very good in denying allegations when they discovered that the issue would not favour them then they would deny. And I know that they have denied it again. They were holding the Binance staff hostage for months and when the 16 Americans lawmakers visited Joe Biden to intervene on the issue omen, Nigerian Government removed and withdraw all the allegations and released the man. It is only those who don't understand Nigeria would support them. Dem never serious for anything. And you know why the dollar never come down and still dey rise. The economic policies are not well implemented. And now Dangote dey cry say the 30% tax go make companies fold and people go lose jobs. All because of the wrong economic policies.

[Aanuoluwatofunmi]

Looking at the situation of things, technology keeps and will keep getting better by the day and government will keep changing and as things stands one of the marketing leads in from Binance has told some folks in Nigeria(no publicly) that Binance will still come back to Nigeria but not now and he can't tell when, but Binance will surely come back to Nigeria again.

Whether they come back or not, binance will always remain and the same way the country will be, it is the users who should learn how any of their both decision will not affect them negatively in such a way that they run at loss for using an exchange or for being affected over government regulations, lastly, we should have it in mind that not your keys not your coins is real.

[Makus]

I don't think the accusations were not true. The accusations were true even the 10 millions naira was legit because of it was not true national newspaper would not published it. It was true but Nigeria government denied them mostly the 10 millions naira fine. Government is very good in denying allegations when they discovered that the issue would not favour them then they would deny. And I know that they have denied it again. They were holding the Binance staff hostage for months and when the 16 Americans lawmakers visited Joe Biden to intervene on the issue omen, Nigerian Government removed and withdraw all the allegations and released the man. It is only those who don't understand Nigeria would support them. Dem never serious for anything. And you know why the dollar never come down and still dey rise. The economic policies are not well implemented. And now Dangote dey cry say the 30% tax go make companies fold and people go lose jobs. All because of the wrong economic policies.

That is because they definitely do not want the public to see them as Evil as they are but rather after making those crazy decisions they'll always get away with it because the system is fucking corrupt. I could remember clearly that the lawmakers also made a statement concerning this issue and they said the actions of the government is sending a negative signal to the public. I thought that could stand as the beginning of a new initiative toward crypto but is seem that was their best efforts towards tackling this matter. Despite all the voicing of Nigerians our government still proceed in making decisions based on their own selfish interest.

[Darker45]

Looking at the situation of things, technology keeps and will keep getting better by the day and government will keep changing and as things stands one of the marketing leads in from Binance has told some folks in Nigeria(no publicly) that Binance will still come back to Nigeria but not now and he can't tell when, but Binance will surely come back to Nigeria again.

Whether they come back or not, binance will always remain and the same way the country will be, it is the users who should learn how any of their both decision will not affect them negatively in such a way that they run at loss for using an exchange or for being affected over government regulations, lastly, we should have it in mind that not your keys not your coins is real.

It is true that at some point in the future, we the users require to be more prepared so as to be least impacted by the change in regulations or policies of any of the platforms. To depend on only one exchange or just to follow the flow of policies without an alternative plan can be dangerous. As I mentioned before, the phrase “not your keys, not your coins” is a word for us to be more careful in keeping something and thinking about the safest methods for us all the time. This makes us to be more sympathetic and autonomous in handling changes in the digital financial industry.

[Mia Chloe]

Looking at the situation of things, technology keeps and will keep getting better by the day and government will keep changing and as things stands one of the marketing leads in from Binance has told some folks in Nigeria(no publicly) that Binance will still come back to Nigeria but not now and he can't tell when, but Binance will surely come back to Nigeria again.

Ever since the dollar crisis stuff in Nigeria and  when the government decided to stop P2P transactions by restricting the use of binance here many crypto persons decided to switch to other Centralised exchanges like bybit.  Anyways I was in a discussion with some persons yesterday and one of them was of the opinion that it's still possible to do P2P transactions on binance that people make use of VPNs to do so.

Actually I really don't know how true it is and I really didn't believe what he was actually saying.anyways has anyone here actually tried making use of VPN to tweak binance and do P2P transactions in Naira? I doubt there would be Naira ads available.