Safe

2024

Security

<p>The post <a href="https://coinpedia.org/news/binance-highlights-key-numbers-for-nigerian-government-pledges-safe-employee-return-following-arrests/">Binance Highlights Key Numbers For Nigerian Government, Pledges Safe Employee Return Following Arrests</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Amid tensions between the Nigerian government and Binance, the cryptocurrency exchange has announced significant measures to ensure the safety of its employees in Nigeria, while also presenting data to showcase its dedication to responsible crypto growth in the region. By engaging closely with Nigerian officials and highlighting its commitment to regulatory compliance, Binance seeks to offer support to its staff in Nigeria. This move is particularly vital in light of recent events, where regulators have detained two senior Binance executives on charges of destabilizing the Naira currency.</p> 
<h2 class="wp-block-heading" id="h-binance-highlights-key-facts-for-nigeria">Binance Highlights Key Facts For Nigeria</h2> 
<p>Binance’s <a href="https://www.binance.me/en/blog/ecosystem/binance-and-nigerian-law-enforcement-partnership-to-foster-responsible-growth-2357556244453575749">recent blog post</a> highlights a dual focus: the safety of its team members and strict adherence to local regulations. Amid challenges in Nigeria, the company has voiced a strong commitment to work with Nigerian authorities to ensure the safe return of its employees, highlighting the importance of their professionals’ integrity and the support provided to their families during difficult times.</p> 
<p>According to the blog, Binance is working closely with Nigerian authorities to keep users safe, fight crime, and stop illegal actions. The company’s strong focus on security in the crypto market is shown by its efforts to work together with local officials.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">In light of recent events, we would like to showcase our dedication to promoting the responsible growth of crypto in Nigeria with some facts and numbers.<br><br>We will continue to work with Nigerian authorities to bring our friends and colleagues home.<br><br>They are professionals with the… <a href="https://t.co/qSNNfxJIVx">pic.twitter.com/qSNNfxJIVx</a></p>— Binance (@binance) <a href="https://twitter.com/binance/status/1767925348958884242?ref_src=twsrc%5Etfw">March 13, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>With Nigeria ranking second in Chainalysis’ 2023 global grassroots crypto adoption index, the importance of a trusted platform for crypto transactions is a top priority, said Binance. From June 2020 to February 2024, Binance answered 626 requests from Nigerian authorities, helping fight crimes like fraud and money laundering, and often responded within 37.4 hours.</p> 
<p>Binance blocked 281 Nigerian accounts in January 2022 due to money laundering risks. Binance also held training for over 30 EFCC officials in Nigeria twice in 2023, teaching them about crypto investigations. They ran a three-hour online workshop for 70 EFCC officials in August 2023 and discussed ongoing training with the Nigerian Financial Intelligence Unit.</p> 
<p>Binance highlighted these statistics to demonstrate its dedication to developing safe cryptocurrency environment in Nigeria. The company aims to clarify that it has not contributed to any instability of the Naira. By working closely with regulatory authorities for the past few years, Binance has been actively pursuing a secure expansion of the cryptocurrency market, following its goals as a leading exchange.</p> 
<h2 class="wp-block-heading" id="h-regulators-demand-documents-from-binance">Regulators Demand Documents From Binance</h2> 
<p>According to the Financial Times, Nigeria <a href="https://coinpedia.org/news/binance-to-disclose-top-100-users-and-6m-transaction-history-amidst-the-nigerian-clash/">has requested</a> Binance to provide details on its top 100 users in the country, along with their transaction history for the last six months. This request follows the ongoing detention of Binance’s compliance head and the manager for the Africa region, which has entered its third week.</p> 
<p>Tigran Gambaryan and Nadeem Anjarwalla have been detained by Nigeria’s National Security Agency in a “guesthouse” in Abuja since their arrival on February 25, upon an invitation from the Nigerian government. The news of their detention broke on February 29, but the identities and positions of the detained executives were only disclosed on last Tuesday.</p>

Binance Highlights Key Numbers For Nigerian Government, Pledges Safe Employee Return Following Arrests

Table of Contents

CoinPedia News

Other articles published on Mar 13, 2024

U.S. Initiates UN Resolution on AI, Prioritizing Global Access and Security

BridgeM partners with MerlinLayer2

World's First ICO on Bitcoin Blockchain Nears Final 48 Hours (13 Mar)

Expert Says Rebel Satoshi May Be A Huge Utility Coin Disguised As Memecoin; Predicts 100x Surge F...

Bitcoin Price: How $1B ETF Inflows Could Accelerate BTC Momentum To $80,000 This Week?

Record Bitcoin ETF Inflows Propel BTC to New ATH of $73,637.47

Join our free newsletter for daily crypto updates!