FG Seeks Fresh Court Order To Extend Detention Of Binance Executives - Business

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FG Seeks Fresh Court Order To Extend Detention Of Binance Executives - Business - Nairaland

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FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Mynd44: 12:34pm On Mar 16

The Federal Government of Nigeria has sought an extension of the detention of two Binance officials, Tigran Gambaryan, a U.S. citizen, and British-Kenyan Nadeem Anjarwalla, as part of its ongoing crackdown on cryptocurrency platforms.

The two officials have been held since their arrest two weeks ago, with the Economic and Financial Crimes Commission (EFCC) moving to extend their detention further, according to sources familiar with the case as reported by Reuters on Thursday.

The EFCC approached an Abuja magistrates’ court for a fresh order to extend the detention of Gambaryan and Anjarwalla while investigations continue, following the expiration of the initial court order on Tuesday.

Dele Oyewale, spokesperson for the EFCC, declined to comment on the agency’s move when contacted by the Peoples Gazette.

Binance, the cryptocurrency platform employing the detained officials, stated that it is working with Nigerian authorities to secure their release but refrained from commenting on the specifics of the case.

The Nigerian government, led by Tinubu, has also intensified its efforts to regulate the cryptocurrency market, alleging that platforms like Binance are facilitating currency speculation and undermining the national economy. The government has blocked access to Binance’s website for Nigerian users.

Central Bank of Nigeria governor Olayemi Cardoso claimed that over $26 billion flowed through Binance in the past year, while accusations from media aide Bayo Onanuga accused cryptocurrency platforms of rate manipulation and economic sabotage.

As a result of the crackdown and the detention of its officials, Binance has ceased naira-related transactions and exited the Nigerian market.

The prolonged detention of Gambaryan and Anjarwalla has caused distress to their families, with Gambaryan’s wife expressing the difficulty of the situation, especially for their children eagerly awaiting their father’s return.

https://politicsnigeria.com/tinubu-seeks-fresh-court-order-to-extend-detention-of-binance-executives/

5 Likes 1 Share

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by stano2(m): 12:37pm On Mar 16

I wish FG can take on the fight against corruption this way but NO.
400million naira for one borehole.

79 Likes 7 Shares

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by strangest(m): 12:37pm On Mar 16

The senators are sharing our future.... Leave binance abeg

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by EreluRoz: 12:38pm On Mar 16

I fear who no fear these men using Binance as coverup for fraud

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Duelee: 12:38pm On Mar 16

This government is merely copying the scripts, workings, doings, and direct actions in résumé of USA government against binance...

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Perfectfucker: 12:38pm On Mar 16

🐍

1 Like 2 Shares

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Arobaga: 12:39pm On Mar 16

stano2:
I wish FG can take on the fight against corruption this way but NO.
400million naira for one borehole.

You people rate Tinubu so much

So you expect a man that smuggled two bullion van in broad day light to his house to fight corruption for you

A known criminal that came from Osun to hold Lagos treasury hostage to fight corruption for you

Since they started hunting on binance Shebi dollar still dey 1600

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by sevo(m): 12:39pm On Mar 16

how will the continous detention of binance executive solve our naira freefall?

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by NwaNimo1(m): 12:39pm On Mar 16

Another indefinite detention....

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Tealcrestmedia(m): 12:39pm On Mar 16

This can be like a two edged sword and have a negative effect on investor confidence. If there are charges, charge them quickly or let them go on bail. You can't be detaining someone for over a month and you're yet to build your case, it's really not good. You can release them on bail and have custody of their travel documents. Apart from the money laundering allegations (no kyc for top users, because it's obviously crypto and that's how it works), I don't think there's any other huge crime in running an exchange platform.

They should remember too that we have Nigerian entrepreneurs looking to do business globally.

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by HAH: 12:39pm On Mar 16

They must identify and name all the economy saboteurs, using their platform to undermine the Naira.

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by ThankGod1234567: 12:40pm On Mar 16

Hmmmm

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by StraightGaay: 12:40pm On Mar 16

What will this amount to?

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Sirkingsnado: 12:41pm On Mar 16

kucoin nko wen Dem go arrest them

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Ejyksneh(m): 12:41pm On Mar 16

Nothing good can come out from this govt, check my signature for more

2 Likes

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Boyooosa(m): 12:41pm On Mar 16

Cool

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Hndrrxxx(m): 12:41pm On Mar 16

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Northernblood9(m): 12:41pm On Mar 16

Mumu Federal government. You will tell me exactly how you will convince someone to corporate with you in investigation next time.

You politely invited them to corporate with you for investigation, they came and you quickly arrested (Kidnapped) them. Idiots without shame.

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by ATEAMS: 12:42pm On Mar 16

Nawaaoo

1 Like

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Ofunaofu: 12:43pm On Mar 16

stano2:
I wish FG can take on the fight against corruption this way but NO.
400million naira for one borehole.

And #3.7 trillion budget padding

22 Likes 3 Shares

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Kelklein(m): 12:44pm On Mar 16

I have this feeling that the government is taking this height-of-the-moment steps that they would apologise for, later.. I also see all of these as a distraction and shifting blames for your irrespónsibilities..

There should be a more diplomatic way of handling this..

I recall how the past government was hounding Aboki Fx for causing the daily devaluation of the Naira then.. Naira was just around N380 at that time.. same Naira today is over N1600.. it was all a distraction to shift blame for their irrespónsibility..

Binance offers a currency exchange platform for willing buyers and willing sellers on all currencies or those allowed on their platform. How is Binance responsible for the devaluation of Naira from N189 in 2015 to N1600.. you are going go explain to the court when those guys you are holding sue you for damages when they come out..

The government should take 100% responsibility for the woes of the Naira.. policy somersault, not thinking through before making policy pronouncements, lack of palliatives to cushion adverse effects of policy pronouncements leading to uncontrolled inflation, dearth of productive activities, poor industrialisation, grand corruption, budget padding.. all these negative vices contribute to further kíll the Naira and the economy..

Enough with the distractions..

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by iLegendd(m): 12:45pm On Mar 16

EreluRoz:
I fear who no fear these men using Binance as coverup for fraud

When last did you f*ck?

11 Likes

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by meum: 12:46pm On Mar 16

Hmm

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by sofeo(m): 12:46pm On Mar 16

Incompetency being displayed.

1 Like

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by tefishy(m): 12:48pm On Mar 16

These ones don already buy market. They will learn how to eat beans before gaining freedom

2 Likes 1 Share

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Paraman: 12:49pm On Mar 16

I support the FG

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Artscollection: 12:50pm On Mar 16

Dumb ass bandits,they keep battering the dirty image we are managing and expect foreign investors to come. You guys already have enough time to come up with some evidence.

15 Likes 1 Share

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by Felabrity: 12:52pm On Mar 16

Someone should tell these ediots they kidnapped another country citizens

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by mytime24(f): 12:52pm On Mar 16

And buhari is a freeman

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Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by SalamRushdie: 12:53pm On Mar 16

Stupid govt keep making mistakes ..how do you invite a company not registered in your country for a meeting , they honour your invite even though they shouldn't and you now Abduct the two workers they sent for the meeting ...this economic cost of this action is too much , it will affect FDI as many foreign investors will now feel some type of way about investing in Nigeria

19 Likes 1 Share

Re: FG Seeks Fresh Court Order To Extend Detention Of Binance Executives by excellentj4teal(m): 12:53pm On Mar 16

stano2:
I wish FG can take on the fight against corruption this way but NO.
400million naira for one borehole.

Stop acting like an illiterate. Fix your constitution and stop crying. The constitution gives the president little or no power over the judiciary. Who can fix the constitution? The same judiciary

4 Likes 1 Share

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