Following weeks of speculation, the Financial Times has confirmed the arrest of two high-ranking Binance executives in Nigeria. The arrests occurred after the Nigerian government implemented a ban on the cryptocurrency exchange's website, leading to heightened tensions in the country's crypto industry.
Reports indicate that the executives flew to Nigeria in response to the ban, only to be apprehended by the office of the National Security Adviser (NSA). However, the Nigerian authorities have remained tight-lipped about the arrests, with a spokesperson for the NSA denying any knowledge of the situation.
Meanwhile, the central bank governor hinted at impending regulatory actions, signaling a stricter regulatory environment for cryptocurrency activities in Nigeria. This development marks a significant shift in Nigeria's approach to cryptocurrencies, following the reversal of a previous ban that had restricted crypto companies from accessing banking services.
Amidst the uncertainty, Binance employees have reportedly been cautioned against displaying company identifiers, reflecting the escalating tensions within the industry.
