FG reportedly detains Binance executives, demands list of Nigerians on its platform

Nuhu Ribadu, the national security adviser has detained two executives of the Binance crypto exchange platform and confiscated their international passports, the Financial Times reported on Friday night.

The executives, whose identities were not immediately disclosed, were in Abuja on an invitation from the Nigerian government, the London paper said.

The meeting was expected to address outstanding issues between Binance & Nigeria, whose officials have tried publicly to blame the raging exchange rate crisis on online trading platforms.

The government also sought disclosure of Nigerians on Binance, according to the paper. However, it was unclear what authority the government relied on to hold the foreign businessmen & the detention could potentially escalate the administration’s desperation amid the scramble to contain the value of the national currency.