The two men, aged 29, were detained on Monday evening, Monday, June 22.
They wee arrested after a report that a man had been threatened by two males armed with a gun.
Detective Inspector Adrian Burns said: “We received a report around 6.10 pm that a man walking in the Orchard Street area of the city had been approached by two males, who carried a suspected firearm and threatened to shoot him.
“Two men, both aged 29, were later arrested in the nearby vicinity on suspicion of a number of offences, including carrying a firearm with intent to commit an indictable offence.”
In an update, Police Derry City and Strabane say: “In relation to the incident involving the two males arrested for suspected firearms offences in the city centre on Monday, police have remanded these males into custody.
“They will appear before court this morning.
“If anyone has any further information which could assist police with their enquiries please ring 101 quoting reference 1638 – 22/06/20.”