In a surprising turn of events, two high-ranking executives from Binance are reportedly still being held in Abuja, Nigeria, despite the exchange’s recent announcement of its exit from the country. Tigran Gambaryan, a former US federal agent specializing in cryptocurrencies, and Nadeem Anjarwalla, Binance’s regional manager for Africa, have been detained without their passports for two weeks, as reported by Wired on March 12.
Gambaryan, who is in charge of Binance’s criminal investigations team, and Anjarwalla, based in Binance Kenya, have been held at a government property since February 26, 2024. However, Nigerian prosecutors have not provided any information regarding the possible criminal charges faced by the two executives, leaving their families in the dark about their well-being and the future course of action.
Yuki Gambaryan, Tigran’s wife, expressed her frustration, stating that there are no definitive answers about her husband’s situation or when he will return. A spokesperson for Binance confirmed to Cointelegraph that both Gambaryan and Anjarwalla are still detained in Nigeria as of March 12. The spokesperson emphasized that the executives are individuals of utmost integrity and that the exchange is confident that a swift resolution will be reached.
Reports of the arrests of Gambaryan and Anjarwalla first surfaced in late February, with the Financial Times reporting on the detentions without revealing their identities on February 28. Gambaryan, a US citizen, and Anjarwalla, a dual citizen of the UK and Kenya, arrived in Abuja on February 25, according to their families. The purpose of their visit was to address the ongoing dispute between Binance and the Nigerian government regarding the alleged unlawful operations of the exchange in the country.
The executives had a meeting with Nigerian officials on the following day to discuss the government’s order for telecom providers to block access to Binance and other crypto exchanges. The officials blamed these exchanges for devaluing Nigeria’s official currency, the naira, and facilitating illicit financial activities. However, instead of finding a resolution to the dispute, Gambaryan and Anjarwalla were taken to their hotels after the meeting, instructed to pack their belongings, and later brought to a government-run “guesthouse” controlled by Nigeria’s National Security Agency. Their passports were seized, and they have been held against their will at the location ever since, according to their families.
It has been reported that Gambaryan had a visit from a US State Department official, while Anjarwalla was visited by a representative from the UK Foreign Office. However, Nigerian government guards have been present during these meetings, preventing any private conversations.
The arrests of Gambaryan and Anjarwalla occurred just a few days before Binance officially announced its complete exit from Nigeria on March 5. As part of its exit roadmap, Binance suspended naira withdrawals on March 8 and removed all trading pairs involving the naira on March 7. The platform had also previously disabled peer-to-peer trading with the naira in late February.
This unexpected development has raised concerns and created both fears and opportunities within Nigeria’s crypto community. The situation surrounding Gambaryan and Anjarwalla remains uncertain, and their families and colleagues anxiously await a resolution to this ordeal.
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