Binance Executives Detained in Nigeria Amid Crypto Clampdown
Nigeria’s Department of State Security detained two Binance employees in Abuja, seizing their passports.
The executives, an American and a British citizen, had flown to Nigeria after the country banned several cryptocurrency trading websites.
The reason for their detention is unclear, and it’s uncertain if they face charges. Nigerian authorities also ordered blocking access to Binance, Kraken, Coinbase, and other crypto exchanges, accusing them of aiding currency speculation.
Nigeria’s central bank governor mentioned concerns about illicit fund flows through platforms like Binance. This has sparked reactions on social media, with some expressing fears of deterring investors.
