Binance, the global cryptocurrency exchange, is currently facing intensified legal troubles in Nigeria, as local authorities have recently escalated their charges against the company.

Amidst the situation, the exchange's U.S. executive Tigran Gambaryan has been detained in Nigeria, prompting Binance (CRYPTO:BNB) to issue a statement calling for his release.

The charges add to Binance's ongoing struggle with Nigerian regulators, who have accused the exchange of contributing to the devaluation of the Nigerian naira in February 2024.

Despite the exchange's efforts to engage in dialogue and collaborate with Nigerian authorities, the legal pressures continue to mount, as reported by The Wall Street Journal on April 3.

This development complicates Binance's operations in Nigeria, highlighting the exchange's challenges in navigating regulatory landscapes internationally.