The Unjust Detention of Binance Executive in Nigeria

The Unjust Detention of Binance Executive in Nigeria

The recent detention of Tigran Gambaryan, a top executive at Binance, in Nigeria has sparked outrage and calls for justice. Binance CEO Richard Teng has publicly condemned the unjust detention of Gambaryan, who was apprehended along with Nadeem Anjarwalla, the exchange’s regional manager for Africa, upon their arrival in Nigeria’s capital, Abuja, on Feb. 26.

Teng expressed his concern in a blog post, highlighting the dangerous precedent set by detaining mid-level employees of companies during policy meetings. He emphasized that Gambaryan, a US citizen, was not in Nigeria as a decision-maker or negotiator but as a financial crime compliance expert. The CEO accused the Nigerian government of using Gambaryan’s detention as a means to exert control over Binance.

A Question of Integrity

The allegations of bribery have further complicated the situation, with reports indicating that individuals associated with the Nigerian government demanded a significant payment in crypto from Binance. Teng refrained from disclosing further details but emphasized the need for transparency and integrity in such matters. The New York Times reported that Gambaryan was asked to pay approximately $150 million in crypto as a bribe.

Teng concluded his blog post by urging the Nigerian government to release Gambaryan and allow him to return to his family. He reiterated Binance’s commitment to cooperation with law enforcement agencies worldwide, highlighting the exchange’s history of voluntary collaboration with authorities. The CEO emphasized the importance of resolving the situation amicably and ensuring justice for Gambaryan.

The Way Forward

The detention of Tigran Gambaryan has raised serious concerns about the treatment of foreign executives in Nigeria and the integrity of business dealings in the country. Binance’s CEO has called for transparency, fairness, and respect for the rule of law in resolving this matter. It remains to be seen how the Nigerian government will respond to these calls for justice and whether Gambaryan will be released unconditionally. In the meantime, the crypto community and stakeholders are closely monitoring the situation and advocating for a swift and just resolution to this troubling incident.


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