In the midst of a crypto crackdown in Nigeria, Binance, the global cryptocurrency exchange, has appealed to authorities for the release of its detained executive, Tigran Gambaryan. This request comes on the heels of the company facing charges of tax evasion in the country.
Binance has emphasised that Gambaryan, a former US agent, holds no authoritative decision-making power within the organisation. The company asserts ongoing discussions with Nigerian officials concerning this matter. Gambaryan’s detention occurred subsequent to the company’s legal entanglements over alleged tax evasion.
Gambaryan and Nadeem Anjarwalla, Binance’s Kenya-based regional manager for Africa, found themselves in custody after travelling to Nigeria to address issues regarding restricted access to the company’s website. Anjarwalla, however, managed to leave the country clandestinely, as confirmed by Nigeria’s National Security Adviser (NSA).
In response to their detention, both executives have filed a lawsuit citing human rights violations at the Federal High Court of Nigeria.
Their demands include the return of their passports, an official apology, and their immediate release.
Binance underscores Gambaryan’s prior cooperation with Nigerian law enforcement in combating fraudulent activities, disclosing his team’s contributions amounting to $400,000 in assistance.
Gambaryan’s team conducted several training sessions for Nigerian law enforcement personnel on exchanges’ roles in the digital asset ecosystem.
As Gambaryan approaches his fifth week in detention, the Nigerian government has escalated matters by levying tax evasion charges against Binance. Additionally, they have pursued an international arrest warrant for Anjarwalla, who absconded from custody.
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