The Nigerian Government has requested an extension of the imprisonment of two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, in its ongoing efforts to curb cryptocurrency platforms.
Gambaryan, a U.S. citizen, and Anjarwalla, a British-Kenyan, have been detained since their arrest two weeks ago.
The Economic and Financial Crimes Commission (EFCC) sought to prolong their detention, with an Abuja magistrates’ court being approached for a new order.
Binance, the employer of the detained individuals, stated it's collaborating with Nigerian authorities to secure their release but refrained from discussing case details.
The Nigerian government, led by President Tinubu, is intensifying cryptocurrency market regulation, alleging platforms like Binance promote currency speculation detrimental to the economy.
Binance has stopped naira-related transactions and exite exitedd the Nigerian market due to the crackdown.
The prolonged detention has distressed the families of Gambaryan and Anjarwalla, with Gambaryan’s wife highlighting the impact on their children awaiting their father’s return.
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