Based on the orders of National Security Adviser (NSA) Nuhu Ribadu, two Binance executives — an American and a British-Pakistani — have been detained over alleged involvement in foreign exchange manipulations. Their names were not made available.
It was learnt last night that the Federal Government obtained a Court Warrant to detain the men for 12 days, pending further investigation by the Economic and Financial Crimes Commission (EFCC).
They were taken into custody at a Guest House operated by the Office of the National Security Adviser (ONSA).
The duo allegedly flew into Nigeria yesterday following the Federal Government crackdown on Cryptocurrency exchange. The government plans to ban Cryptocurrency trading owing to alleged sharp practices through their websites.
Speaking on Tuesday after the Monetary Policy Committee (MPC) meeting, Central Bank of Nigeria (CBN) Governor Dr. Olayemi Cardoso, claimed that billions of dollars had passed through the channel from unidentified sources.
The CBN boss said: “In the case of Binance, in the last year alone, $26 billion passed through Binance Nigeria from sources and users who we cannot adequately identify.
“We are concerned that certain practices go on that indicate illicit flows going through a number of these entities and suspicious flows, at best.”
The NSA has asked Binance to provide the data on its operations in Nigeria in the past seven years.
