US EditionBinance: Nigeria orders cryptocurrency firm to pay $10bn
- Binance disputes reports of negotiating a $10 billion fine with the Nigerian government and aims to restore services soon.
- Two Binance officials were detained in Nigeria, sparking further investigations into crypto exchanges.
- The Nigerian government accuses Binance of causing economic disruption and plans to impose heavy fines, though no final amount has been determined yet.
12 Articles
12 Articles
Daily Trust
FG slams $10 billion fine on Binance - Daily Trust
The Federal Government has slammed a $10 billion fine on the widely-used cryptocurrency trading platform, Binance. Bayo Onanuga, the Special Adviser on Information and Strategy to President Bola Tinubu, confirmed this to the BBC on Friday morning. According to Onanuga, the substantial fine is imposed due to Binance’s illicit activities, significantly contributing to the devaluation of Nigeria’s currency, the naira, in recent times. He highlighte…
Naira crisis: FG may demand $10bn compensation from Binance
The Federal Government may demand over $10bn from Binance as a penalty amid moves to salvage the value of the naira. Special Adviser to the President on Information and Strategy, Bayo Onanuga, revealed this in a Friday morning interview with the BBC. Onanuga alleged that Binance profited substantially from its “illegal transactions” in Nigeria while
The Nigerian government requires nearly 10 billion dollars from Binance, one of the leading cryptocurrency companies in the country. Authorities allege manipulation in exchange rates and price-fixing, actions that have resulted in the devaluation of the Nigerian currency by nearly 70% in recent months. Two Binance executive figures were arrested in Nigeria on... The post Nigeria demands $10 billion from Binance for currency manipulation appeared…
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