Summary
Binance discontinues Nigerian naira services due to government investigation, advises users to withdraw funds before deadline. Nigeria considering actions against Binance, including potential $10 billion fine and allegations of currency manipulation, tax evasion, and illegal operations. Central bank governor claims $26 billion passed through Binance Nigeria. Executives reportedly detained but not formally arrested. Binance has not commented on the situation.
Key Points
1. Binance is discontinuing all Nigerian naira services following reports of investigation and potential actions by Nigeria.
2. Users are encouraged to withdraw their NGN assets or convert them into crypto before the discontinuation of naira services.
3. Nigeria’s central bank governor named Binance in a press conference, claiming that $26 billion had passed through Binance Nigeria.