In a developing saga involving cryptocurrency exchange Binance and Nigerian authorities, two senior executives, Tigran Gambaryan and Nadeem Anjarwalla, have reportedly been detained for the past two weeks. The detentions, reported by The Wall Street Journal and Wired, stem from allegations made by Nigeria against Binance, with the African country purportedly demanding $10 billion in penalties.
Detention amidst dispute
Gambaryan, Binance’s head of financial crime compliance and a U.S. citizen, and Anjarwalla, the exchange’s Kenya-based regional manager for Africa, holding dual citizenships of the U.K. and Kenya, were invited by the Nigerian government to discuss the ongoing dispute. Following their arrival in Abuja on February 25, as per reports cited by Wired, the executives were reportedly held against their will after an initial meeting with government officials.
According to family accounts cited by Wired, Gambaryan and Anjarwalla were escorted to their hotels after the meeting, instructed to pack their belongings, and relocated to a “guesthouse” managed by Nigeria’s National Security Agency. Despite visits from U.S. and U.K. government officials, their interactions were conducted under the supervision of Nigerian government guards.
Collaborative efforts for resolution
Binance, in response to inquiries, emphasized its cooperation with Nigerian authorities to ensure the safe return of Gambaryan and Anjarwalla to their families. The exchange asserted its executives’ professionalism and integrity, expressing confidence in promptly resolving the matter.
A spokesperson for Binance conveyed to CoinDesk, “While it is inappropriate for us to comment on the substance of the claims at this time, we can say that we are working collaboratively with Nigerian authorities to bring Nadeem and Tigran back home safely to their families.” The statement underscored the company’s commitment to supporting the detained executives.
Official response and ongoing developments
As the situation unfolds, the office of Nigerian President Bola Ahmed Tinubu has yet to issue a formal response. However, reports from The Financial Times initially brought attention to the detentions, refraining from naming the individuals involved.
With Gambaryan’s background as a former special agent of the U.S. Internal Revenue Service Criminal Investigation (IRS-CI) Cyber Crimes Unit and Anjarwalla’s role as a key figure in Binance’s African operations, the detentions have drawn significant attention within the cryptocurrency community.
Nigerian authorities’ detention of Binance executives Tigran Gambaryan and Nadeem Anjarwalla amidst a dispute with the cryptocurrency exchange has raised concerns and garnered attention globally. While the specifics of the allegations remain undisclosed, both Binance and Nigerian authorities are working to resolve the situation and ensure the safe return of the detained individuals. As developments unfold, stakeholders await further updates on this ongoing matter.
