Nigeria wants Binance to reveal information on its top 100 users as well as every transaction data from the previous six months.

According to the Financial Times Report, the government also wants the cryptocurrency exchange to pay any outstanding tax liabilities after it stopped offering services in naira.

Recall that in an earlier report, the country recently detained two Binance officials, identified as Tigran Gambaryan, a former US federal agent who leads Binance's criminal investigations team, and Nadeem Anjarwalla, the exchange's regional manager for Africa headquartered in Kenya.

The Nigerian Government accused Binance of facilitating trading that contributed to the naira's devaluation. Since February, the government has targeted cryptocurrency exchanges, blocking access to their websites and now threatening fines.

President Bola Tinubu's special adviser on information and strategy Bayo Onanuga, has recently stated that Binance is cooperating with the government, a position it has previously reiterated.

In an interview with journalists, Onanuga defended the government's measures, saying, "If we don't crack down on Binance, they will ruin the economy of this nation. "They simply fix the rate."