07 May

Binance CEO Richard Teng has called for the immediate release of the exchange's executive, Tigran Gambaryan, who has been detained in Nigeria for over 70 days. In a blog post, Teng asserted Gambaryan's innocence and condemned his detention as setting a dangerous precedent for global companies.

Gambaryan, Binance's Head of Financial Crime Compliance, was detained in February along with Nadeem Anjarwalla, the exchange's regional manager for Africa. They were initially held without charge before being charged with tax evasion by Nigeria's Federal Inland Revenue Service (FIRS). Anjarwalla managed to escape detention, but Gambaryan was transferred to a prison run by Nigeria's anti-corruption agency.

Teng emphasized that Gambaryan's visit to Nigeria was in a professional capacity to provide expertise on financial crime compliance and policy discussions. He also provided a detailed account of Binance's activities in Nigeria and its efforts to cooperate with local authorities.

Teng disputed claims linking Binance to Nigeria's currency crisis and asserted that Gambaryan, as a mid-level employee, was being unjustly targeted to exert control over Binance. Gambaryan has filed a lawsuit against the Nigerian government for violating his rights.

Teng revealed that Gambaryan and Anjarwalla faced aggressive behavior during a meeting with Nigeria's Economic and Financial Crimes Commission (EFCC), where they were accused of various offenses, including terrorist financing and money laundering.

As a goodwill gesture, Teng stated that Binance had delisted the Nigerian naira and disabled its P2P product for Nigerian users. He urged Nigerian authorities to release Gambaryan and continue engaging with Binance on tax matters and law enforcement cooperation.

Teng expressed hope for a positive resolution and the safe return of Binance employees to their families.

May 2024, Cryptoniteuae

* The email will not be published on the website.