365int
Tigran Gambaryan, Binance’s head of financial crime compliance, recently shared insights into his eight-month detention in Nigeria during a speech at the DC Blockchain Summit on March 26. He described his arrest in February 2024 as a strategic move by Nigerian authorities to extract concessions from Binance, stating, “The Nigerian government had held me hostage… to get something from Binance.”
Background of the Detention
Gambaryan and fellow Binance executive Nadeem Anjarwalla traveled to Abuja on February 25, 2024, for discussions with Nigerian officials regarding the crypto exchange’s operations. Both were detained on February 26 amid allegations of money laundering and tax evasion. While Anjarwalla managed to escape custody, Gambaryan remained imprisoned, facing deteriorating health conditions, including pneumonia and malaria.
International Advocacy and Release
The prolonged detention prompted appeals from U.S. lawmakers and officials, urging President Biden and the State Department to secure Gambaryan’s release. The Nigerian government’s decision to drop the charges in October 2024 led to his return to the United States on October 23. Reflecting on his ordeal, Gambaryan expressed hope that those responsible would “one day face justice.”
Ongoing Disputes
In response to Gambaryan’s remarks, a statement attributed to Nigeria’s Ministry of Information dismissed his claims as “baseless” and “without merit.” The situation underscores the complex dynamics between cryptocurrency enterprises and regulatory bodies in various jurisdictions.
