The Financial Times (FT) reported that Nigeria’s Department of State Security detained at least two Binance employees on Monday night in Abuja in connection with investigations into the crypto exchange operations.
Authorities have confiscated the passports of the two Binance executives.
This move followed accusations levelled against Binance and other cryptocurrency exchanges, alleging their involvement in facilitating currency speculation and manipulation of the forex market.
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Nigeria’s Central Bank Governor, Olayemi Cardoso, had also stated that there were signs of illicit financial flows occurring through platforms such as Binance.
