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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/nigeria-intensifies-crackdown-on-binance-with-user-data-request/" data-wpel-link="internal">Nigeria Intensifies Crackdown on Binance with User Data Request</a> 
According to the Financial Times, the Nigerian government has escalated its dispute with the cryptocurrency exchange <a href="https://en.coin-turk.com/binance-prepares-for-mica-significant-regulations-for-crypto-exchanges-on-the-horizon/" data-wpel-link="internal">Binance</a> by requesting detailed information on the last six months of transactions for the country’s top 100 users on the exchange. The request made by the country’s national security advisor also includes Binance’s compliance with unpaid tax obligations. 
<h2 style="text-align: justify" id="strong-tensions-continue-to-rise-strong">Tensions Continue to Rise</h2> 
Previous reports had suggested that Nigerian officials would impose a hefty $10 billion fine on Binance for allegedly profiting from “illegal transactions” despite the country’s regulations. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-326855" src="https://coin-turk.com/wp-content/uploads/2024/03/Binance-Nijerya.jpeg" alt="" width="1280" height="720"> 
Furthermore, the local news agency NairaMetrics inflamed the debate over Binance in Nigeria by claiming that the Central Bank Governor Olayemi Cardoso accused Binance Nigeria of facilitating an illegal money flow of $26 billion last year from unidentified sources. 
According to the Financial Times, authorities also accuse Binance of contributing to the devaluation of Nigeria’s national currency, the Nigerian naira. Due to the escalating tension, Binance was forced to terminate support for the Nigerian naira on its platform earlier this month and had to delist all Nigerian naira trading pairs, among other actions. 
<h2 style="text-align: justify" id="strong-detention-of-two-senior-binance-executives-revealed-strong">Detention of Two Senior Binance Executives Revealed</h2> 
The conflict between Nigerian officials and Binance made headlines worldwide, especially after the detention of two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, was revealed. They have been held at a Nigerian government residence since February 26. On March 12, a Binance spokesperson stated that they were cooperating with Nigerian authorities to ensure the safe return of Nadeem and Tigran to their families. 
The ongoing dispute between the Nigerian government and Binance is a significant example of the issues faced by global cryptocurrency exchanges operating in certain jurisdictions, particularly regarding compliance with legislation and government scrutiny. Regulators worldwide, especially in Turkey, are currently making significant efforts to regulate cryptocurrencies. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/nigeria-intensifies-crackdown-on-binance-with-user-data-request/" data-wpel-link="internal">Nigeria Intensifies Crackdown on Binance with User Data Request</a></h5>

Nigeria Intensifies Crackdown on Binance with User Data Request

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