Binance CEO Richard Teng criticized the Nigerian government’s detention of employee Tigran Gambaryan, calling it unjust and a dangerous precedent for global businesses.
Despite Binance’s efforts to cooperate with Nigerian authorities, Gambaryan remains detained on what Binance sees as unfounded charges. The situation contradicts Binance’s history of transparency and cooperation.
Gambaryan and colleague Nadeem Anjarwalla were arrested in February regarding a criminal investigation into Binance’s Nigerian activities. Anjarwalla escaped custody, while Gambaryan remains in detention pending bail.
The Nigerian government accuses Binance of influencing the naira’s depreciation and concealing $35.4 million in revenue. Gambaryan faces charges including tax evasion and money laundering, with his trial postponed due to procedural issues.
Teng emphasized Gambaryan’s lack of decision-making authority and Binance’s commitment to cooperation. He highlighted ongoing engagement with Nigerian authorities, particularly regarding tax matters. Teng stressed Binance’s willingness to contribute positively to Nigeria’s economy and reaffirmed support for Gambaryan.