The federal government has requested transaction data from Binance, targeting its top 100 users in Nigeria and six months of transaction history.
This move is part of efforts to stabilize the local currency, the naira, amidst concerns over crypto platforms’ influence on exchange rates. Recent clashes between the government and Binance escalated when accusations arose regarding the platform’s impact on Nigeria’s financial stability.
The government’s actions include demanding resolution of tax liabilities and detaining Binance executives.
