Binance CEO Urges Nigerian Authorities to Release Detained Executive After Six Months

• Binance CEO Richard Teng has called for the release of detained executive Tigran Gambaryan, citing serious health concerns.
• Gambaryan, detained since February, faces ongoing legal battles in Nigeria despite charges being dropped by the tax authority.
• International pressure mounts as U.S. lawmakers and industry leaders urge action, viewing the detention as a coercive move against Binance.

Binance CEO Richard Teng and industry leaders are intensifying their efforts to secure the release of Tigran Gambaryan, a Binance executive detained in Nigeria since February. In a recent statement, Teng emphasized the severe physical and mental toll that Gambaryan’s prolonged detention has taken, urging the Nigerian government to release him on humanitarian grounds. 

Detained Over Baseless Allegations, Says Teng

Teng highlighted that the Nigerian authorities have detained Gambaryan based on what he describes as baseless allegations  involving the crypto exchange. The CEO stressed that Binance has successfully resolved issues with governments in multiple countries, including the United States and Brazil, without any harm coming to its employees. According to Teng, there is no justification for Gambaryan’s continued imprisonment.

Gambaryan’s family has echoed Teng’s concerns, particularly regarding his deteriorating health. In a video statement, Yuki, Gambaryan’s wife, disclosed that he has been suffering from severe medical complications, including malaria and pneumonia, while being denied necessary medical care. His health has reportedly declined to the point where he can no longer walk, raising alarm among his family and supporters.

Legal Battles and Humanitarian Appeals

Gambaryan, who previously served as a special agent for the United States Internal Revenue Service, traveled to Nigeria earlier this year alongside a colleague, Nadeem Anjarwalla, to address regulatory concerns with Nigerian officials. Following a meeting, both executives were detained, facing charges of tax evasion and money laundering. Although the Nigerian tax authorities dropped their charges in June, Gambaryan remains detained on money laundering allegations, with his next court hearing scheduled for September 2.

Broader Implications for Binance

The situation has drawn attention from international stakeholders, including U.S. lawmakers, who have called on President Biden to intervene. Many view the charges against Gambaryan as a coercive tactic by the Nigerian government to exert pressure on Binance. As the situation unfolds, Binance’s response and the outcome of Gambaryan’s case could have significant implications for the company’s operations in Nigeria and beyond.