The Bola Tinubu-led administration is requesting an extension of the detention of two Binance officials, Tigran Gambaryan, who is a U.S. citizen, and Nadeem Anjarwalla, who is British-Kenyan.
The move is part of the government’s efforts to crack down on cryptocurrency platforms.
The two officials have been in custody since they were arrested two weeks ago. The Economic and Financial Crimes Commission (EFCC) is seeking to prolong their detention, as reported by Reuters on Thursday.
According to information available to Allub Times, the EFCC has asked an Abuja magistrates’ court for a new order to keep Gambaryan and Anjarwalla detained while investigations are ongoing. This request comes after the initial court order expired on Tuesday.
Dele Oyewale, the spokesperson for the EFCC, did not provide any comments on the agency’s actions when contacted by the Peoples Gazette.
Binance, the cryptocurrency platform where the detained officials work, mentioned that they are collaborating with Nigerian authorities to secure their release. However, they did not provide any details on the case.
The Nigerian government, under the leadership of Tinubu, has increased its efforts to regulate the cryptocurrency market. The government said platforms like Binance are promoting currency speculation and harming the national economy. As a result, Nigerian users have been blocked from accessing Binance’s website.
The governor of the Central Bank of Nigeria, Olayemi Cardoso, stated that over $26 billion has passed through Binance in the last year. Media aide Bayo Onanuga also accused cryptocurrency platforms of manipulating rates and sabotaging the economy.
Due to the government crackdown and the detention of its officials, Binance has stopped naira-related transactions and left the Nigerian market.
The prolonged detention of Gambaryan and Anjarwalla has caused distress to their families. Gambaryan’s wife has expressed the challenges they are facing, especially for their children, who are eagerly waiting for their father’s return.
