Cryptocurrency: Turn In Users’ Data To Nigerian Govt – Court Orders Binance
…. As Experts Warn Of Economic Consequences By Ogechi Okirie ABUJA – Federal High Court sitting in Abuja has granted an interim order compelling Binance Holdings Limited (prominent cryptocurrency exchange platform) to furnish the Economic and Financial Crimes Commission (EFCC) with comprehensive data on all Nigerian traders using its platform. “The applicant’s application dated and filed 29th February, 2024, is hereby granted as prayed. That an order of this honourable court is hereby made directing the operators of Binance to provide the commission with comprehensive data/information relating to all persons from Nigeria trading on its platform,” the judge ordered. The presiding judge, Justice Emeka Nwite, issued the order following an ex parte motion moved by the EFCC’s legal representative, Ekele Iheanacho, aims to provide crucial information to the anti-graft agency for its investigation. The ex parte motion marked FHC/ABJ/CS/259/2024 was brought pursuant to Sections 6(b), (h), (I), 7(1), (a)(2), and 38 of the Economic and Financial Crimes Establishment Act, 2004 and Section 15 of the Money Laundering (Prevention and Prohibition) Act, 2022 (as amended) and the inherent powers of the …
Cryptocurrency: Turn In Users’ Data To Nigerian Govt – Court Orders Binance Read More