Binance also reportedly educated members of the Nigerian financial crime commision on how to combat financial crimes that involve digital assets
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Binance has revealed that it has continuously partnered with Nigerian authorities to bring about responsible growth of crypto in Nigeria.
In a bid to achieve this, they revealed in their report that they have responded to 626 information requests from the economic and financial crimes commision (EFCC) and other related agencies in the last 4 years.
With an average of 37.4 hours between submission and resolution, the information provided helped authorities to tackle crimes ranging from scams and fraud to money laundering, blackmail, kidnapping, and extortion.
Binance also noted that its Law Enforcement Training team delivered two full-day sessions to EFCC officials in Abuja and Lagos, with more than 30 investigators attending each of them.
The training which focused on practical aspects of cryptocurrency investigations like following the money on the blockchain using both public and commercial tracing tools, received overwhelming positive feedback from Nigerian investigators, who expressed strong interest in continuing this format of cooperation.
This blog post from Binance came days after the Nigerian government asked them to suspend services that relate to the Nigerian Naira on its platform and detained two of its officials
Binance has stated that it remains committed to fostering constructive relationships with the Nigerian government
“Even though Nigeria is not yet one of Binance’s top markets, we believe it holds extraordinary potential, and we hope to continue to invest there,” Binance said.
