These regulations include timely payment of all required fees, adherence to guidelines for licence renewal, submission of returns as per guidelines, and compliance with directives and circulars, particularly those related to Anti-Money Laundering (AML), Countering the Financing of Terrorism

The government obtained a court warrant to detain the officials for at least twelve days. Onanuga claimed that Binance is not registered in Nigeria and accused it of negatively impacting the local currency's value.