The recent detention of Tigran Gambaryan, a US citizen and the head of Binance’s financial crime compliance department, in Nigeria has sparked outrage within the cryptocurrency community. Binance CEO Richard Teng has publicly called for Gambaryan’s release, stating that the detention was unjust and set a dangerous precedent. According to Teng, inviting a company’s employees for collaborative policy meetings only to detain them sends a troubling message to companies worldwide.
Teng’s accusations against Nigeria suggest that the government’s actions were aimed at exerting control over Binance. Gambaryan, who was not in Nigeria as a decision-maker or negotiator, but as a financial crime expert, was detained alongside Nadeem Anjarwalla, Binance’s regional manager for Africa. Anjarwalla managed to escape custody, while Gambaryan remains imprisoned. Teng emphasized that Nigeria’s decision to detain a mid-level employee and former US federal agent was a strong-arm tactic to control the exchange.
In his blog post, Teng revealed that Binance had received requests from individuals claiming to represent Nigeria’s House Committee on Financial Crimes, demanding a significant payment in crypto to be made in secret. While Teng did not disclose the exact amount requested, reports from reputable sources, such as The New York Times, allege that a Nigerian government official solicited a bribe of around $150 million in crypto from Gambaryan.
Appeal for Justice
Teng concluded his statement by urging Nigeria to release Gambaryan and allow him to return to his family. He expressed willingness to work with Nigeria’s law enforcement, citing previous collaborations with the country’s authorities. The call for justice and fairness in Gambaryan’s case highlights the importance of upholding human rights and due process, especially when dealing with international business relations.
The detention of Binance’s executive in Nigeria raises serious concerns about the government’s motives and actions. The cryptocurrency community, led by Binance CEO Richard Teng, is pushing for transparency, accountability, and justice in this case. It serves as a reminder of the challenges and risks faced by companies operating in complex regulatory environments, where political interests can sometimes overshadow individual rights and fair business practices.
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