DancePhd @Dance_phd - Twitter Profile

over 2 years ago

Young People, please calm down. I know that I went after your beloved Binance. But note this: asking the government to follow the law as written in the rule books should not make people feel bad. I am unbiased and I have no advocacy, what that means is that I do not take sides. If the Nigerian government asked Binance to provide documents of its customers in Nigeria, through which it allegedly moved/traded $26 billion, that is fair game. Supporting the government on that should not make you unhappy: “According to sources who spoke with PREMIUM TIMES Wednesday evening, the Nigerian authorities requested Binance executives to provide data relating to transactions involving the Nigerian Naira on the Binance platform in the last seven years.... However, the Binance executives insisted that they should be taken to their respective countries’ embassies before they could comply.” To read me, you have to be objective. I try to be fair and balanced, critiquing and commending the government based on how I interpret policies. My only desire is that Nigeria works, so that others will benefit from Nigeria, because Nigeria worked for me. I have nothing against Tinubu, Buhari or anyone; I sing praises if they do well, and lead a charge against them if otherwise. That is the way to understand me. Let us allow our government to do its work, reminding it to follow due process. If a Nigerian is arrested in London or New York, we do not accuse their governments of being stupid. So, why should we do the same on our own? If you read PT report, you can see that what Nigeria is accusing Binance was the same thing the US Government accused it which lead to its CEO pleading guilty: “Binance did not implement comprehensive know-your-customer (KYC) protocols or systematically monitor transactions, and Binance never filed a suspicious activity report (SAR) with FinCEN”. That said, Nigeria’s problem is not Binance or AbokiFX. I have been consistent since June 2023 that the floating of Naira is a bad policy, because you do not float what you cannot control. So, all the garagara with Binance, AkokiFX, etc will not fix the root cause of Nigeria’s FX problem which is: we need to do things which can reduce demand for USD or/and generate more USD. Yes, Nigeria should arrest and detain factories in Aba, Ibadan, Kano, Uyo, etc and force them to produce things, for Naira to breathe. For Binance, I have no problems with it; it possibly will not have any problem once it provides the documents which I do think it has. And once it does, Nigeria will likely see the list and will do nothing because some "do not touch names" will likely be in that list. Next week, another scene will open … and the play continues https://t.co/xMi3pzhWlS

ndekekwe's tweet photo. Young People, please calm down. I know that I went after your beloved Binance. But note this: asking the government to follow the law as written in the rule books should not make people feel bad. I am unbiased and I have no advocacy, what that means is that I do not take sides.

If the Nigerian government asked Binance to provide documents of its customers in Nigeria, through which it allegedly moved/traded $26 billion, that is fair game. Supporting the government on that should not make you unhappy: “According to sources who spoke with PREMIUM TIMES Wednesday evening, the Nigerian authorities requested Binance executives to provide data relating to transactions involving the Nigerian Naira on the Binance platform in the last seven years.... However, the Binance executives insisted that they should be taken to their respective countries’ embassies before they could comply.”

To read me, you have to be objective. I try to be fair and balanced, critiquing and commending the government based on how I interpret policies. My only desire is that Nigeria works, so that others will benefit from Nigeria, because Nigeria worked for me. I have nothing against Tinubu, Buhari or anyone; I sing praises if they do well, and lead a charge against them if otherwise. That is the way to understand me.

Let us allow our government to do its work, reminding it to follow due process. If a Nigerian is arrested in London or New York, we do not accuse their governments of being stupid. So, why should we do the same on our own? If you read PT report, you can see that what Nigeria is accusing Binance was the same thing the US Government accused it which lead to its CEO pleading guilty: “Binance did not implement comprehensive know-your-customer (KYC) protocols or systematically monitor transactions, and Binance never filed a suspicious activity report (SAR) with FinCEN”.

That said, Nigeria’s problem is not Binance or AbokiFX. I have been consistent since June 2023 that the floating of Naira is a bad policy, because you do not float what you cannot control. So, all the garagara with Binance, AkokiFX, etc will not fix the root cause of Nigeria’s FX problem which is: we need to do things which can reduce demand for USD or/and generate more USD. Yes, Nigeria should arrest and detain factories in Aba, Ibadan, Kano, Uyo, etc and force them to produce things, for Naira to breathe.

For Binance, I have no problems with it; it possibly will not have any problem once it provides the documents which I do think it has. And once it does, Nigeria will likely see the list and will do nothing because some "do not touch names" will likely be in that list. Next week, another scene will open … and the play continues https://t.co/xMi3pzhWlS

80

221

71

48

42K

DancePhd

@Dance_phd

Who to follow

Last Seen Users on Sotwe

Trends for you

Most Popular Users