The Nigerian Government Issues Warrant to Detain Binance Officials

The Nigerian Government Issues Warrant to Detain Binance Officials

The Nigerian government has recently obtained a court warrant to detain Binance officials for at least twelve days. This came after the officials insisted on being taken to their respective countries’ embassies. The government’s actions were reportedly in response to accusations of Binance aggravating the country’s foreign exchange challenges by manipulating rates for profit.

Reports have identified the detained executives as Tigran Gambaryan and Nadeem Anjarwalla. Gambaryan, a former special agent of the US Internal Revenue Service, served as Binance’s head of financial crime compliance. On the other hand, Anjarwalla was the regional manager for Binance Kenya. The two executives have been held in Abuja, Nigeria’s capital, for two weeks without access to their passports.

The officials had traveled to Nigeria at the government’s invitation to address ongoing issues surrounding Binance’s operations in the African country. However, instead of engaging in constructive dialogue, they were escorted from their hotels, asked to pack their belongings, and moved to a guesthouse managed by Nigeria’s National Security Agency.

Binance has stated that it is working with Nigerian authorities to secure the release of its detained executives. In an email statement on Mar. 12, the company emphasized that Gambaryan and Anjarwalla are professionals with the highest integrity, and they will provide them with all the necessary support.

The situation involving the detention of Binance officials in Nigeria is a concerning development. The Nigerian government’s actions raise questions about the treatment of foreign professionals in the country and the business environment for cryptocurrency exchanges. It is essential for both parties to find a resolution to this issue through constructive dialogue and mutual cooperation.

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