NIGERIA GOVERNMENT ARRESTS TWO BINANCE OFICIALS AMID CRYPTO CLAPDOWN.

According to Financial times on Wednesday, the executives flew to the Nigeria but had their passports seized by the Office of the National Security Adviser.

According to the report, the executives visited Nigeria in response to the country's recent crackdown on various Cryptocurrency trading platforms.

Their arrest is coming amid allegation of manipulation in foreign exchange trading in Nigeria.

Bayo Onanuga, special adviser to President Bola Tinubu on information and strategy, on February 21, 2024, said BINANCE and other Cryptocurrency platforms should be banned from operating in the country. 

He said BINANCE is Blatantly setting exchange rate for Nigeria, and hijacking the role of the Central Bank of Nigeria (CBN)

The special adviser called in the Economic and financial Crimes Commission ( EFCC) and the CBN to move against the platforms, adding that the firm's are "manipulating' their national currency to ground Zero.