Nigeria Detains Binance Executives as It Investigates the Crypto Exchange: Reports
Two executives from Binance crypto exchange were detained in Nigeria by the Office of the National Security Adviser, who also seized their passports. The executives were invited to Nigeria for a meeting and were detained upon landing due to allegations of Binance operating illegally in the country. While no charges have been filed, the executives could potentially face accusations of currency manipulation, tax evasion, and illegal operations. Central bank Governor Olayemi Cardoso claimed that Binance Nigeria moved $26 billion worth of untraceable funds. Nigerian anti-corruption agency, police, and national security adviser have begun investigations into crypto exchanges and are seeking a list of past and present Binance Nigeria users. Last year, the country's Securities and Exchange Commission stated that Binance Nigeria was not authorized to operate in the country.
