Two senior Binance officials were detained in Nigeria after the country banned the use of cryptocurrencycurrency trading platforms. The Financial Times reported this. The executives were not exempt from the travel ban order and were held at the national security advisor’s office, where their passports were taken immediately.
Several cryptocurrencycurrency exchanges have already been banned in Nigeria. Exchanges like as OctaFX, Crypto, FXTM, Coinbase, and Kraken no longer function in the area.
This is due to their war against the Nigerian naira, which has become increasingly popular for trading on cryptocurrencycurrency sites due to current dollar shortages. Following its second devaluation in less than a year, the naira’s official exchange rate is now close to the black market rate.
Read also: Binance Faces Regulatory Hurdles in Philippines as SEC Plans Ban
