Binance Executive Detained in Nigeria, Company Calls for Release

Binance is upset about Tigran Gambaryan, an executive, being held in a Nigerian jail, calling it an "unfair" decision.

Gambaryan has denied any wrongdoing related to charges of evading taxes and laundering money in a court in Nigeria.

His detention was ordered to continue at the Kuje jail, which had been attacked by the Islamic State in 2022.

Yuki Gambaryan, his wife, pleaded with the U.S. to intervene and asked Nigeria to free him, emphasizing his innocence.

She believes resolving the situation with Binance's higher-ups could lead to his release.

A spokesperson from Binance told Blockworks of their disappointment with Gambaryan's continued detention, stressing he doesn't hold a key position in the company.

They defended his lifelong dedication to public service and fighting crime, stating the accusations were baseless.

The company believes he should be released while Binance and Nigerian officials continue to talk, labeling his transfer to Kuje as "extreme."

Binance has been in talks with Nigerian authorities and publicly sought Gambaryan’s freedom in a blog post, stating he shouldn't be blamed during ongoing discussions.

The detention of Gambaryan and another executive, Nadeem Anjarwalla, occurred amid growing tensions, with Anjarwalla later escaping the country.

Nigeria's claim of $26 billion moving through Binance Nigeria led to discussions of a potential fine.

After a lengthy legal battle, the court will reconvene on April 19, with the Gambaryan family hoping for a resolution to the legal challenges.

Following these events, Binance stopped supporting the Nigerian Naira, marking a significant shift in its operations in Nigeria due to the executives' detention.