Yhe court order granting the Economic and Financial Crimes Commission (EFCC) permission to detain the Binance executives for two weeks to facilitate investigations expired on Tuesday and the duo have not been released.
The Nigerian Government has pleaded before a chief magistrate’s court in Abuja to extend the detention of two Binance executives arrested by the country’s National Security Adviser.
The Binance executives identified as Tigran Gambaryan, a U.S. citizen and Binance’s head of financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan who is African regional manager for the cryptocurrency trading firm, flew to Nigeria following the country’s decision to ban several cryptocurrency trading websites, but they were detained on arrival on February 26.
Reuters reports that the court order granting the Economic and Financial Crimes Commission (EFCC) permission to detain the Binance executives for two weeks to facilitate investigations expired on Tuesday and the duo have not been released.
They have also not been charged with any crime.
Meanwhile, Reuters reports that the EFCC has asked the chief magistrate’s court to extend their detention while investigations continue, said a person involved in the case but not authorised to speak to the press.
The two executives’ lawyers maintained that there are no grounds for keeping them in detention, the person added.
Another source privy to the incident said a hearing was set for March 20 when the court can either dismiss or grant the extension request on the same day or later.
The spokespersons for the EFCC and the Office of the National Security Adviser, which is also involved in the probe, did not respond to Reuters requests for comment.
The crackdown on cryptocurrency trading in Nigeria has been linked to the devaluation of the country’s currency, Naira.
The Nigerian authorities on Tuesday asked Binance to share data on its 100 top users in Nigeria for possible probe and charge. But the company has kept mum on this request.
Anjarwalla’s wife, Elahe, told Reuters that the two men were being kept in a guarded house in the capital Abuja and she had been able to speak to her husband on the phone at least once a day, although he can only speak in the presence of a guard.