First and foremost, the right to privacy is a fundamental human right that is recognized by various international conventions and treaties, as well as the Nigerian Constitution. The demand for the names of all Nigerian traders on the Binance exchange could be seen as a violation of the right to privacy, as individuals have the right to keep their financial information confidential. The government's action could be seen as an infringement on this right, and may be subject to legal challenge.
Secondly, the actions taken by the government could also raise concerns about the rule of law and due process. The arbitrary arrest and detention of the Binance executives without clear legal grounds could be seen as a violation of their rights. In a democratic society, individuals are entitled to due process and a fair trial, and any action taken by the government must be in accordance with the law.
Furthermore, the demand for the names of all Nigerian traders on the Binance exchange could also raise concerns about data protection and cybersecurity. Requiring a private company to disclose such sensitive information could put the personal data of individuals at risk, and could potentially lead to data breaches and identity theft. The government has a duty to protect the personal information of its citizens, and any action that compromises this duty could have serious legal consequences.
In addition, the actions taken by the government could also have broader implications for the business environment in Nigeria. Nigeria has been trying to attract foreign investment and promote economic growth, and the arrest and detention of executives from a major international company like Binance could send a negative signal to investors. This could potentially harm Nigeria's reputation as a business-friendly country, and could deter other companies from investing in the country.