Former crypto-focused US federal agent Tigran Gambaryan and Binance executive Nadeem Anjarwalla find themselves in a precarious situation as captives of the Nigerian government in Abuja.
Stripped of their passports for two weeks, the executives remain confined at a government property without any formal charges disclosed to them.
Government’s Response to Cryptocurrency Market Decline
In response to the decline of the local currency, the Naira, the Nigerian government has taken drastic measures.
The detention of the Binance executives, as reported by the Financial Times, is seen as part of the government’s efforts to stabilize the currency.
The executives had arrived in Nigeria following the country’s decision to ban several cryptocurrency trading websites.
Official Actions: Binance Executives Detained by National Security Adviser
The report indicates that the detention of Gambaryan and Anjarwalla was orchestrated by Nigeria’s national security adviser.
Their passports were seized, marking a significant development in the government’s response to the perceived impact of cryptocurrency on the national currency.
Central Bank of Nigeria’s Position: Collaborative Efforts Against Market Manipulation
Central Bank of Nigeria Governor Olayemi Cardoso’s claims and collaboration with the Economic and Financial Crimes Commission (EFCC), the Police, and the Office of the National Security Adviser (NSA) indicate a unified effort to protect against market manipulation.
Binance faces accusations of setting the exchange rate for Nigeria, prompting calls for a ban on cryptocurrency in the country.
About the Detained Binance Executives: Gambaryan and Anjarwalla
Tigran Gambaryan, a former US federal agent, has a notable history of leading investigations against cryptocurrency-related crimes.
His expertise includes taking down thieves, money launderers, and dark-web drug dealers. Anjarwalla, an Oxford- and Stanford-educated government affairs specialist for Binance, joined the company a year ago.
Arrival in Nigeria and Detention: Binance Executives’ Meeting with Officials
Gambaryan and Anjarwalla arrived in Abuja on February 25, responding to the Nigerian government’s invitation to address the ongoing dispute with Binance.
After the initial meeting with Nigerian officials, they were taken to their hotels,
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