Nigerian Court Orders Binance to Provide Comprehensive Data on All Nigerians Using Its Platform to Anti-Graft Agency

A Federal court in Nigeria has ordered Binance to provide the country's Economic and Financial Crimes Commission (EFCC) with comprehensive data on all Nigerians using its platform. This comes as two senior executives from Binance remain detained in Nigeria for the fourth week, with a court hearing scheduled for Wednesday. The EFCC is investigating financial crimes and had previously requested information on Binance's top 100 users in Nigeria and all transaction history spanning the past six months, but the court order appears to expand this to all Nigerians trading on the platform. Nigeria has taken action against the crypto industry for allegedly facilitating illegal capital outflows, and Binance has been a particular focus, with authorities demanding $10 billion in penalties for enabling some $26 billion of untraceable funds.