Binance has released a statement regarding the detention of its executives in Nigeria, who will remain in custody until at least March 20. The blog post, published on March 13, emphasizes Binance’s commitment to complying with local laws and regulations, and fostering responsible growth in Nigeria’s crypto sector. Binance states that it has been cooperating with Nigerian law enforcement agencies since June 2020, responding to 626 information requests with an average resolution time of 37.4 hours. The exchange calls on Nigerian authorities to engage with crypto partners with a proven track record of constructive collaboration. Reports indicate that Binance’s detained executives will remain in custody until March 20, as Nigeria seeks access to Binance’s top 100 users in the country and six months of transaction history. Nigeria is attempting to stabilize the naira and combat currency speculation through crypto exchanges, leading to restrictions on access to several exchanges, including Binance.

Post Views: 2