Binance CEO Richard Teng has spoken out against the detention of Tigran Gambaryan, a key executive of the exchange, in Nigeria. Teng described the situation as unjust and worrisome, setting a dangerous precedent for companies globally. He emphasized that inviting employees for policy discussions and then detaining them is unacceptable.
Tigran Gambaryan, a US citizen and head of Binance’s financial crime compliance department, was apprehended alongside Nadeem Anjarwalla, Binance’s regional manager for Africa, upon their arrival in Abuja on February 26. While Anjarwalla managed to escape custody, Gambaryan remained detained. Teng clarified that Gambaryan was not in Nigeria to make decisions or negotiate but rather to provide expertise in financial crime and policy discussions.
Teng accused Nigeria of detaining Gambaryan in an attempt to assert control over Binance. He highlighted the absurdity of detaining an innocent employee and former US federal agent in order to influence the exchange. Teng called for the Nigerian government to release Gambaryan and pledged to cooperate with law enforcement, as Binance has done over 600 times in the past.
In his blog post, Teng revealed that the exchange received demands for a significant crypto payment from individuals claiming to represent Nigeria’s House Committee on Financial Crimes. While he did not disclose the exact amount requested, reports suggest that Gambaryan was approached by a member of the Nigerian government asking for a bribe worth approximately $150 million in crypto.
The detention of Tigran Gambaryan, a respected executive at Binance, raises serious concerns about the treatment of foreign nationals in Nigeria. Binance CEO Richard Teng’s call for the release of Gambaryan and his plea for fair treatment and cooperation from the Nigerian government are crucial in ensuring justice and upholding the rule of law. It is essential for all countries to respect the rights of individuals and companies, regardless of their origins, and to refrain from using unjust practices to achieve their goals.