According to ChainCatcher news, two Binance executives were intercepted by Nigerian officials when entering Nigeria. The British "Financial Times" reported, citing relevant sources, that the two men were detained by Nigeria's National Security Adviser's Office and their passports were confiscated. People familiar with the matter told Bloomberg that the two people were invited to meet with officials in Nigeria and were intercepted when they landed on the grounds that Binance was operating illegally in the country.

Bloomberg reported that the two executives have not yet been charged, but may face charges of currency manipulation, tax evasion and illegal operations. "This is not necessarily an arrest," said Zakari Mijinyawa, a spokesman for the national security adviser. "Meetings and discussions are ongoing." This is a national security issue and the inter-agency process is ongoing".