Two Binance executives, representing the world’s largest cryptocurrency exchange, will remain in custody for at least another two weeks in Nigeria. Despite appearing in court for the first time on Wednesday and not facing any charges, their families disclosed.
A U.S. citizen, Tigran Gambaryan serving as Binance’s head of financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan overseeing Binance’s operations in Africa, traveled to Nigeria after the country banned several cryptocurrency trading platforms and were detained upon arrival on Feb. 26.
The duo On Tuesday appeared in a Federal High Court in Abuja. However, neither the court nor the executives’ attorneys commented on the proceedings.
Lawyers representing the Economic and Financial Crimes Commission are seeking a new detention order, as the initial one expired on March 12. The Binance executives are contesting this request, but the judge has yet to make a ruling.
“In today’s court hearing in Abuja, attended by Tigran and Nadeem, the court decided to reconvene on April 5th after hearing arguments from both sides,” stated the families of the detained executives.
Gambaryan and Anjarwalla were ensnared in a government crackdown following the emergence of several cryptocurrency platforms facilitating Nigerian currency trading amidst persistent dollar shortages in the country.
Earlier this month, Binance announced the cessation of all transactions and trading involving Nigeria’s naira currency, effective from March 8.
