LAGOS, Nigeria, Monday, March 18, 2024 – Nigerian authorities have detained two senior executives from cryptocurrency exchange Binance, according to a Financial Times report on Tuesday, March 13.1
Authorities detained two top executives from the cryptocurrency exchange Binance.
Two top executives of Binance, Tigran Gambaryan and Nadeem Anjarwalla, were reportedly detained by Nigerian prosecutors after the cryptocurrency exchange attempted to initiate discussions with local authorities.
Despite Binance’s move to delist all naira transactions and suspend peer-to-peer naira transactions in late February, the executives remain in custody.
The detentions occur amidst escalating tensions between the Nigerian government and Binance, with officials reportedly requesting data on the platform’s top 100 users within the country.
The reasons for the detentions and the specifics of the user data being sought remain unclear.
Binance has not issued a public statement regarding the situation.
The development follows a series of regulatory actions by the Nigerian government targeting the cryptocurrency market.
Earlier this year, Nigerian authorities restricted access to cryptocurrency exchanges via online banking channels.
The detention of Binance executives and the request for user data are likely to exacerbate tensions between Nigerian authorities and the cryptocurrency industry.
This latest development follows a series of actions taken by the Nigerian government aimed at regulating the cryptocurrency market.
The detention of Binance executives and the demand for user data are likely to further strain relations between Nigerian authorities and the cryptocurrency industry.
- Cryptocurrency Exchange: https://www.ft.com/content/9c1394de-0492-4597-b075-cbf19e0b6e83[↩]
