Consulting firm: Binance official’s detention in Nigeria could undermine investor confidence in the country’s investment environment

Bitget App

Trade smarter

Cointime2024/05/12 23:13

By:Cointime

The risk consulting firm SBM Intelligence, which focuses on Africa, has warned that the detention of Binance officials in Nigeria sends a discouraging message to foreign investors and may weaken their confidence in the country's investment environment.

SBM Intelligence stated that when government officials are perceived as corrupt or willing to engage in unethical behavior, it hinders foreign investment, undermines the rule of law, and impedes efforts to eliminate poverty and inequality. However, the government and its agencies hold a negative view of cryptocurrencies because they weaken control over financial transactions and the economy. Regardless of the allegations against Binance, it is important to remember that the story of a foreign company will serve as a warning to other companies. If Nigeria is marked as a country where company officials may be extorted and then detained indefinitely, convincing investors to invest will become extremely challenging.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

Explore Arctic Pablo Coin's presale, Pudgy Penguins' gaming expansion, and Fwog's market trends. Discover the Top New Meme Coins to Invest in April 2025.Arctic Pablo Coin (APC): Staking and RewardsArctic Pablo Coin (APC): Presale Reaches Frostbite CityPudgy Penguins: Expanding into Mobile GamingFwog: Gaining Momentum in the Meme Coin MarketWrapping Up: Arctic Pablo Coin (APC) Stands OutFor More Information:

Coinomedia•2025/04/23 23:44

Buy Low, Fly High: Arctic Pablo at $0.000099 Eyes $0.008 Surge, While Fwog And Pudgy Penguins Push Boundaries

Australian Court Overturns License Ruling Against Block Earner, Sides with Fintech in Landmark Crypto Case

In a significant legal win for Australia’s crypto and fintech industry, the Federal Court has overturned a previous ruling that required digital finance firm Block Earner to obtain a financial services license for its discontinued fixed-yield crypto product.

DeFi Planet•2025/04/23 21:55