I have long anticipated this particular event between the Nigeria government and binance to take place in the future which is happening now. I remember in my previous comments on a topic created here and the other platform where I said that the government would soon begin clamp down on binance just to get the list of Nigerians registered on their platform since their inception and here it is taking shape. I believe all these fight like I Initially said is just to get at binance to pay tax of all the transaction charges they've been benefitting from Nigeria p2p trade deals.
I believe this is amongst the reasons why the clamp down is taking a different tone altogether and this was the response from the CBN governor when asked about the binance clampdown;
“In the last four years, more than $26 billion have been funnelled through Binance without trace.”
I would not be surprised that some powers that be themselves are into the Crypto currency trade and are just hiding behind playing innocent but doing the unthinkable just to protect or cover up their dirty act with the funds under their custody.
In all, the major reasons behind this scuffle is just taxation. The Nigeria government just wants binance to pay tax of all transactions they have conducted on the Nigeria binance p2p platform which they want to benefit from that's all. That is a huge amount of money which they know themselves could benefit from through channeling it to other means in the name of projects and other engagements.
My concern now is this, would the federal government charge binance to pay for tax in arrears right from their inception and also charge Nigerians registered with binance to pay tax in same fate as they have begin to put pressure on binance to give them list and details of Nigerians registered with them right from their inception.
Your thoughts and opinions are welcomed.
Ref.
https://dailypost.ng/2024/02/28/naira-rescue-nigeria-govt-detains-binance-executives-amid-crackdown/https://gazettengr.com/nsa-ribadu-detains-two-binance-executives-in-abuja-demands-list-of-nigerians-on-global-crypto-platform/This is actually a pathetic move by the government just for their selfish interest, because I know very well that all this their actions is not because of the interest of the citizens, it's because they feel that they can milk out something from binance since they believe that binance have what it takes to pay what so ever fine imposed on them as punishment for not paying tax to the Nigerian government all this while.
And come to think of it, how is this actions of theirs reducing the price of goods and services in the country? Because things in the market are still very costly, I just feels like this current government is bent on making life difficult for everyone living in Nigeria, let's just believe that in due time, the storm will be over, let just watch and see where it will lead them to.