The Wall Street Journal and Wired reported that two senior Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, were detained by Nigerian authorities for two weeks. The executives were held against their will following their arrival in Abuja on February 25th to discuss an ongoing dispute with the Nigerian government regarding the cryptocurrency exchange.
New Developments in the Dispute Between Binance and Nigerian Government
According to reports, Binance’s head of compliance and U.S. citizen Tigran Gambaryan and the exchange’s Africa regional director based in Kenya, who holds dual citizenship of the UK and Kenya, Nadeem Anjarwalla, were detained after their initial meeting with government officials. Following the meeting, they were taken to a guesthouse operated by the Nigerian National Security Agency, as indicated by their families.
Although the Financial Times initially reported the detentions without naming the individuals involved, further details have emerged revealing the identities of the detained Binance executives. Notably, Gambaryan, a former special agent of the IRS Criminal Investigation (IRS-CI) Cyber Crimes Unit, and Anjarwalla have since been visited by officials from the U.S. and UK governments, albeit under Nigerian government escort.
The dispute centers on allegations made by the Nigerian government against Binance, claiming that approximately $26 billion in untraceable funds were processed and laundered through the platform. At one point, it was alleged that the Nigerian government demanded a $10 billion penalty from Binance for facilitating these transactions within the country.
Binance Spokesperson Confirms Detention
In response to this situation, a Binance spokesperson confirmed the detention. The spokesperson stated that the company is cooperating with Nigerian authorities to ensure the safe return of Gambaryan and Anjarwalla to their families. While emphasizing the professionalism and integrity of the detained executives, the Binance spokesperson assured that the cryptocurrency exchange would fully support them throughout this challenging process and expressed confidence in a swift resolution of the matter.
The detention of Binance executives highlights the regulatory challenges surrounding the cryptocurrency world, especially in regions where government scrutiny and legal disputes may arise.
