The situation between Nigeria and Binance remains tense despite Binance withdrawing support for the naira.

Challenges persist for Binance in Nigeria as two employees are still held in the country. Nigerian authorities have requested an extension of the detention of these two executives, who have been in custody since February 26 in Abuja.

Officials in Nigeria have sought to prolong the detention of Binance's head of financial crime compliance, Tigran Gambrayan, and Nadeem Anjarwalla, the regional manager for Africa, beyond the initial 14-day court order.

Despite being detained, no formal charges have been brought against them. The wives of the detained executives have expressed their distress, urging for their release and emphasizing the need for a swift resolution.

A hearing scheduled for March 20 will address the executives' detention, with their legal representatives arguing against it. Nigerian authorities have been given three days to respond to the lawyers' arguments. Binance has stated its commitment to collaborating with Nigerian authorities to ensure the safe return of the executives to their families, emphasizing their professionalism and integrity.

The conflict between Binance and Nigeria arose when the country's central bank governor implicated Binance during a press briefing, alleging that a significant amount of money had flowed through Binance Nigeria. Subsequently, discussions of imposing fines emerged, leading to Binance's decision to cease naira support following the escalating situation.