Binance CEO Demands Release of Detained Executive
Binance CEO Richard Teng has called for the immediate release of Tigran Gambaryan, the company’s executive director, who has been held in custody in Nigeria for over 70 days. Teng expressed concerns over the detention, stating that it sets a dangerous precedent for international companies.
Unlawful Detention of Binance Executives
Gambaryan and Binance’s regional manager for Africa, Nadim Anjarwalla, were arrested in February 2024 while in Nigeria for an investigation. Teng criticized the court order that held the executives without charges, calling it an unlawful detention.
Refuting Allegations of Tax Evasion
The Nigerian Federal Inland Revenue Service accused Binance and its employees of tax evasion, leading to Gambaryan’s transfer to a prison run by the anti-corruption agency. Teng denied the allegations and stated that Binance had complied with Nigerian authorities’ demands.
Cooperation with Nigerian Government
Teng assured that Binance will continue to cooperate with the Nigerian government to bring its employees home. The company has made adjustments to its services in Nigeria and remains committed to resolving the situation.
Setting a Negative Precedent
Teng warned that the actions of the Nigerian authorities could have a negative impact on international companies operating in the cryptocurrency space. He emphasized the importance of addressing the situation promptly to prevent further complications.
