Business
Panic As EFCC Obtains Court Order To Track Nigerians On Binance
Nigerians trading on the Binance platform may soon be guests of the Economic and Financial Crimes Commission (EFCC) following an order by the Federal High Court in Abuja to provide the EFCC with detailed information on all persons from Nigeria trading on its platform.
The move is also coming up after a motion filed by the anti-graft agency demanding details of Nigerians trading on Binance.
An EFCC operative, Hamma Bello, said that the EFCC’s Special Investigation Team received intelligence that money laundering and terrorism funding were carried out on Binance.
His words: “On receipt of the intelligence, the team began an investigation by conducting surveillance of the activities of the platform.
“The team uncovered users who have been using the platform for price discovery, confirmation and market manipulation which has caused tremendous distortions in the market, resulting in the naira losing its value against other currencies,” the EFCC source said of the move against Binance.
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