The Nigerian government says it has demanded almost $10bn (£8bn) in compensation from the cryptocurrency firm, Binance. It says Binance manipulated foreign exchange rates through currency speculation and rate-fixing, which have seen the naira lose nearly 70% of its value in recent months.

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The Guardian Nigeria

Nigeria

Binance says no intention of paying $10 billion fine to Nigeria

The government blames Binance for the recent collapse of the naira, and has arrested two executives.

Ad Fontes Media

All Sides

Media Bias/Fact Check

BBC News

Government of the United Kingdom

United Kingdom

Nigeria orders cryptocurrency firm to pay $10bn

Binance, a cryptocurrency giant, has refuted the Nigerian government's claims that they are negotiating to pay a $10 billion fine. A Binance official stated it had no discussions regarding a $10 billion fine with the Nigerian government but hopes to resume services "very soon." “We recently discussed ways to resolve issues with Nigeria, but we […] The post Binance says no intention of paying $10 billion fine to Nigeria appeared first on The Guar…

Scott Trust Limited

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

Punch Newspapers

Naira crisis: FG may demand $10bn compensation from Binance

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…

O governo nigeriano exige quase 10 bilhões de dólares da Binance, uma das principais empresas de criptomoedas no país. As autoridades alegam manipulação nas taxas de câmbio e fixação de preços, ações que resultaram na desvalorização da moeda nigeriana em quase 70% nos últimos meses. Duas figuras executivas da Binance foram detidas na Nigéria no... The post Nigéria exige US$10 bilhões da Binance por manipulação cambial appeared first on O Antagon…

Nigéria exige US$10 bilhões da Binance por manipulação cambial

O Antagonista

São Paulo

State of São Paulo

Brazil

Nigeria demands $10 billion from Binance for currency manipulation

The special adviser on information and strategy to President Bola Tinubu, Bayo Onanuga, has made it clear that he never claimed crypto trading platform, Binance, was aware of $10bn penalty or that Nigerian regulators decided same. “I said our government may impose heavy fines on Binance for what happened. I never said Binance had been informed about the fines or that it would definitely be $10 billion. “I only said the amount may be imposed, whi…

Leadership

Sam Nda-Isaiah

Abuja

Municipal Area Coun

Federal Capital Territory

Onanuga Denies $10bn Fine Claim Against Binance, Says He Was Misrepresented

A spokesperson for the president later denied an amount had been set, People's Gazette reported.

Coin Desk

Manila

Metro Manila

Philippines

Nigeria Government Demands $10B From Crypto Exchange Binance: BBC

The Nigerian government has fined Binance $10 billion, saying the exchange profited from "illegal transactions"

watcher.guru

Nigerian Government Fines Binance $10B for 'Illegal Transactions'

Nigeria will ask cryptocurrency exchange Binance to pay $10 billion for alleged losses caused to the government by its operations, according to an aide to President Bola Tinubu.

Semafor

Justin B. Smith, Ben Smith

New York

United States

Nigeria wants $10 billion from Binance as “retribution” for losses

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…

Daily Trust

FG slams $10 billion fine on Binance - Daily Trust

Nigeria has intensified its regulatory measures against Binance, one of the world’s leading cryptocurrency exchange platforms. The Nigerian government has demanded a staggering $10 billion fine from Binance, alleging its involvement in illicit activities within the country’s crypto space as well as linkages to the currency devaluation. As part of its efforts to maintain stability in its local currency amidst increasing crypto transactions, Niger…

Coingape

Just-In: Binance Faces $10B Fine Amid Nigeria's Crypto Crackdown

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Binance: Nigeria orders cryptocurrency firm to pay $10bn

Binance: Nigeria orders cryptocurrency firm to pay $10bn

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