Binance Works with Nigerian Authorities Amid Staff Detention

Binance collaborates with Nigerian officials amid ongoing disputes, despite the cessation of naira support. The situation escalated with the continued detention of two Binance staff in Nigeria since February 26, following a request by Nigerian authorities to an Abuja court to extend their custody beyond the initial 14 days.

Detained without charges, the employees, Tigran Gambrayan and Nadeem Anjarwalla have sparked concern from their families. Their wives have publicly called for their release, questioning the benefit of their detention to resolving the issues between Binance and the Nigerian government. They urged both the Nigerian authorities and their home countries to expedite their return.

A court hearing on March 20 will address the lawyers' plea against the executives' continued detention, with Nigerian officials given a deadline to reply. Binance, in response, stated its ongoing cooperation with Nigerian authorities, emphasizing the professional integrity of Gambrayan and Anjarwalla and their commitment to supporting them for a quick resolution.

The root of the dispute dates back to allegations by Nigeria's central bank governor, Olayemi Cardoso, involving Binance in a $26 billion transaction. This led to talks of a potential fine and Binance's subsequent withdrawal of naira support.