Binance CEO demands release of employee in Nigeria

Binance CEO Richard Teng claims that Tigran Gambaryan is in “a dangerous prison to control Binance.” He demands the release of his employee, who has been in custody for 70 days.

Binance CEO demands employee’s release

In a blog post, Teng said Gambaryan’s imprisonment “has set a dangerous new precedent for all companies worldwide.” He adds that he is innocent and demands release.

Gambaryan is the manager of the cryptocurrency exchange’s Financial Crime Prevention Department. In February this year, he was detained by Nigerian authorities along with his colleague, Binance Africa regional manager Nadeem Anjarwalla. The duo had traveled to the country to consult with government officials investigating crypto exchanges.

Both Binance employees were initially detained without charge on a court order, before Anjarwalla escaped what Teng characterized as “unlawful detention.” The duo and Binance were subsequently charged for tax evasion by the Federal Tax Authorities of Nigeria (FIRS). Meanwhile, Gambaryan has been transferred to a prison run by the country’s anti-corruption agency.

According to local media, Nigeria is seeking Anjarwalla’s extradition; a spokesperson for his wife then claims that reports about his arrest in Kenya are incorrect. In his blog post, Teng emphasizes that Gambaryan visited Nigeria as a “functional expert in financial crime and capacity building in policy discussions,” and did not go to the country as a “’decision maker,’ nor a ‘negotiator.’”

Binance’s CEO also released a detailed overview of the exchange’s operations in Nigeria over the past two years, and negotiations with Nigerian lawmakers and regulators. Nigeria is currently undergoing a currency crisis, which Teng believes has been blamed on Binance by local authorities.