Expressing grave concern, Binance CEO Richard Teng has denounced the Nigerian government’s actions as setting a perilous precedent for companies worldwide.
In a detailed statement issued on May 7, Teng highlighted the unlawful detention of two of Binance’s employees, Tigran Gambaryan and Nadeem Anjarwalla, during their visit to Nigeria for policy discussions.
The situation unfolded after Gambaryan and Anjarwalla, representing Binance, travelled to Nigeria in early January to engage in constructive dialogue with Nigerian authorities regarding cryptocurrency regulations and compliance.
However, despite assurances of safe passage, the two were detained by Nigerian authorities, prompting international attention.
Teng revealed that the detention escalated into a concerning demand for cryptocurrency payment to resolve unspecified allegations.
Despite Binance’s refusal to comply, the situation worsened, leading to Anjarwalla’s eventual release and Gambaryan’s continued detention.
The CEO stressed the lack of transparency from Nigerian authorities regarding the allegations and urged for Gambaryan’s release.
The ongoing saga has disrupted Binance’s operations in Nigeria, with all naira and peer-to-peer services suspended following the arrests.
Anjarwalla’s subsequent attempt to flee the country and his subsequent arrest in Kenya further complicates the situation.
Gambaryan’s trial is scheduled for May 17.
