Nigerian authorities have petitioned an Abuja court to prolong the detention of two Binance executives entangled in the nation’s cryptocurrency crackdown, as reported by sources familiar with the situation on Thursday.
“Tigran Gambaryan, a U.S. citizen and Binance’s head of financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan who is Binance’s regional manager for Africa, flew to Nigeria following the country’s decision to ban several cryptocurrency trading websites, but they were detained on arrival on Feb. 26,” the sources revealed.
Despite being held since February 26, the executives have not faced any formal charges.
The crackdown follows a surge in the use of cryptocurrency platforms for trading the Nigerian currency amidst chronic dollar shortages.
According to court documents obtained by Reuters, Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), was initially granted a 14-day order for the detention of the two executives to aid investigations.
However, the order expired on Tuesday, and the EFCC has sought an extension of their detention while investigations continue, said a source close to the case.
Lawyers representing the executives have contested their continued detention, stating that there are no legal grounds for it.
A hearing is scheduled for March 20 to address the extension request, during which the court may decide to dismiss or grant it.
Both the EFCC and the Office of the National Security Adviser, involved in the probe, have yet to respond to requests for comment from Reuters.
Binance, the world’s largest cryptocurrency exchange, acknowledged in a statement on Wednesday its cooperation with Nigerian authorities to facilitate the return of its executives.
Reports surfaced on Tuesday, as per the Financial Times, suggesting that the EFCC had requested data on Binance’s top 100 users in Nigeria, a claim the exchange has not addressed.
Elahe Anjarwalla, the wife of Nadeem Anjarwalla, disclosed to Reuters that the detained men are being housed in a guarded residence in Abuja. She noted being able to speak with her husband daily, albeit in the presence of a guard.
