The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.
If Binance bends to the government and submit a list of its users, it will further reduce the trust that other people in other countries who use their services have for the company. They will loose many customers.
This is one of the major attacks I’ve seen on an exchange so far and I don’t know if the major reason is solely because of naira to dollar price speculations but I do think, the actions are harsh and I also agree with you that, if binance dares to submit to the demands of the federal government, then it will a major setback for them, not just in Nigeria but around the world as trust will be lost and other users from other countries might think that, their safety isn’t guaranteed and it will cause many users from around the world to refrain from using their platform which you’ll agree that’s a major setback for the company.
I really don’t know why Nigeria government are already fighting wrong battles , I think they need to sit up and do what’s right and not going after the wrong things and I think the supposed online price is already stabilizing with cbn price and it’s still not getting any better .