Binance announced that it is working with the Nigerian government to release its officials who are in custody.

According to local media site Premium Times, on March 12, the Nigerian government got a court warrant to hold Binance officials for a minimum of twelve days, following their insistence that they be brought to their respective nations' embassies.

The Nigerian government recently charged Binance with making the nation's foreign exchange problems worse by manipulating exchange rates for financial gain. As a result, two senior officials were detained by Nigerian authorities and access to Binance's official website was restricted.

According to reports earlier today, the executives in custody are Binance's head of financial crime compliance, Tigran Gambaryan, a former special agent of the US Internal Revenue Service (IRS), and Binance Kenya's regional manager, Nadeem Anjarwalla. Without access to their passports, the two have been detained in Nigeria's capital, Abuja, for the past two weeks.

The executives had been to Nigeria at the government's request in order to discuss the ongoing problems pertaining to Binance's activities in the African nation.

Instead of having a productive conversation, Gambaryan and Anjarwalla were allegedly led out of their lodgings, told to pack up their things, and taken to a guesthouse run by the National Security Agency of Nigeria.

Binance’s response

Binance told CryptoSlate that it is collaborating with the Nigerian authorities to secure the release of its detained executives, according to a Mar. 12 e-mail statement.

The Richard Teng-led exchange said:

“While it is inappropriate for us to comment on the substance of the claims at this time, we can say that we are working collaboratively with Nigerian authorities to bring Nadeem and Tigran back home safely to their families. They are professionals with the highest integrity, and we will provide them all the support we can. We trust there will be a swift resolution to this matter.”