Binance Denies Nigerian Government’s $10 Billion Fine Demand

Binance Holdings Ltd has denied the Nigerian government’s claim that the cryptocurrency giant is discussing a potential $10 billion fine to restore its services and free its executives.

Binance spokesperson stated that the company had not heard any demand for a $10 billion fine and that they were not in any talks with the Nigerian government on the matter.

The spokesperson emphasized that their aim is to establish a good relationship with the government and the people of Nigeria, and they hope to see their services restored in the country soon.

The statement came as a response to a recent report by the BBC, which quoted Bayo Onanuga, a Nigerian government spokesperson, as saying that the government was demanding a $10 billion fine from Binance.

However, Onanuga later clarified that his statement was misrepresented in the media and that the fine had not been concluded by Nigerian regulators.

Binance’s denial of the fine demand comes as a surprise, considering the Nigerian government’s recent crackdown on cryptocurrency platforms.

The government has accused Binance of contributing to the devaluation of the country’s currency, the Naira, and has called for the platform to be held accountable.

Binance has denied the Nigerian government’s claims that they are discussing a $10 billion fine to restore their services and free their executives.

The company emphasized its desire to maintain a positive relationship with the Nigerian government and its people and hopes to see its services restored in the country soon.