Nigeria Detains Binance Executives Amid Currency Devaluation Dispute

The Nigerian government has accused Binance of contributing to the naira's devaluation, demanding user data and tax settlements while detaining two executives.

Two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, have been detained in Nigeria since February 26, following an invitation by the Nigerian government to discuss operations.
Nigeria has accused Binance of contributing to the devaluation of its currency, the naira, and has demanded data on its top 100 local users and transaction history.
The Nigerian government has also requested Binance to settle outstanding tax liabilities and has previously sought a $10 billion penalty for alleged illegal transactions.
Binance has ceased support for the Nigerian naira on its platform and is working collaboratively with Nigerian authorities to secure the release of the detained executives.
The situation has raised diplomatic tensions, with the U.S. and U.K., the home countries of the detained executives, involved in efforts to secure their release.