Tigran Gambaryan, a U.S. citizen who is also Binance’s head of financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan who is Binance’s regional manager for Africa, flew to Nigeria following the country’s decision to ban several cryptocurrency trading websites but were detained on arrival on Feb. 26.

This detention follow’s Nigeria’s recent decision to ban various cryptocurrency trading platforms.

However, the 2 Binance executives appeared in a Federal High Court in Abuja on Tuesday, 19th March 2024.

The families of the executives revealed what happened at the Court hearing.

They said “ During the Court hearing, which was attended by Tigran and Nadeem, the court ruled that after hearing arguments from both parties, they would resume the session on April 5th,”

Lawyers of the Economic and Financial Crimes Commission (EFCC), pressed the court to give a new detention order for the executives, since the first detention order ended on March 12.

The Binance executive didn’t agree with this and went ahead to show their displeasure. 

Nevertheless, the court didn’t grant such a request from the EFCC.

Previously, Binance announced its decision to stop its naira-to-dollar exchange services in Nigeria On March 8, because the Nigerian authorities allegedly accused Binance of manipulating the country’s foreign exchange rate.

Also, The Central Bank of Nigeria Governor, Olayemi Cardoso, said that over $26bn in illicit funds had transited through the platform in the previous year.

Binance, in their defence, revealed they had limited 281 Nigerian accounts in 2022 because of suspicion of money laundering.

Moreover,  The Financial Times disclosed that the EFCC asked Binance to give an exclusive list of their top 100 Nigerian users and share the data of their transaction history in the past 6 months.

Which is still under negotiation between Nigeria and Binance.

Is it possible Binance will yield to this request?

If Binance yields to this, does it mean they have broken the trust of their users by sharing their confidential data,

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