Binance executives were arrested by the office of the National Security Adviser during their visit to Nigeria last week, following a ban on their website.
The Federal Government of Nigeria has imposed a $10 billion fine on Binance, a global cryptocurrency exchange that has been at the center of a crypto crackdown in the country.
Recall that the government accused Binance of benefiting from alleged illegal transactions, which led to the detention of two executives of the global crypto exchange.
Binance executives came to Nigeria last week following a ban on their website and were arrested by the office of the National Security Adviser (NSA).
While the NSA is yet to share any details of the investigation, Olayemi Cardoso, the central bank governor, claimed “$26 billion has passed through Binance Nigeria from sources and users who we cannot identify.”
There have also been reports that the government has asked Binance for user data and details.
