Binance Leaders Detained in Nigeria

In spite of Binance's recent announcement of its withdrawal from Nigeria, two of its senior executives reportedly remain detained in the country's capital, Abuja.

According to a report from Wired on March 12, Tigran Gambaryan, a former cryptocurrency-focused federal agent from the United States, and another Binance executive named Nadeem Anjarwalla, have been held in Abuja without their passports for two weeks.

Gambaryan, who heads Binance’s criminal investigations team, and Anjarwalla, the regional manager for Africa based in Binance Kenya, have been in detention at a government facility since February 26, 2024.

The families of Gambaryan and Anjarwalla have stated that Nigerian prosecutors have not provided any information on whether the two executives are facing criminal charges.

Gambaryan's wife, Yuki Gambaryan, expressed uncertainty about his well-being and the prospects of his return, saying there's no clarity on the situation.

A spokesperson for Binance confirmed to Cointelegraph on March 12 that Gambaryan and Anjarwalla are still detained in Nigeria and stated that the company is working with Nigerian authorities to ensure their safe return to their families.

The spokesperson emphasized the professionalism and integrity of both executives and expressed confidence in a swift resolution to the matter.

Reports of the arrests of Gambaryan and Anjarwalla emerged in late February, with the Financial Times reporting on the detentions on February 28 without initially naming them.

Gambaryan, a U.S. citizen, and Anjarwalla, who holds dual citizenship of the United Kingdom and Kenya, arrived in Abuja on February 25, according to their families.

They came to Nigeria following an invitation from the Nigerian government to address the ongoing dispute with Binance over its operations in the country.

Instead of reaching a resolution, Gambaryan and Anjarwalla were reportedly taken from their hotels soon after their initial meeting with Nigerian officials, had their passports confiscated, and were taken to a guesthouse operated by Nigeria’s National Security Agency, according to their families.

The families allege that the officials have prevented private conversations during visits from a U.S. State Department official for Gambaryan and a representative of the U.K. Foreign Office for Anjarwalla.

The arrests occurred a few days before Binance formally announced its complete withdrawal from Nigeria on March 5.

As part of its exit plan, Binance suspended naira withdrawals on March 8, removed all trading pairs involving the naira on March 7, and had previously disabled peer-to-peer trading with the naira in late February.

Sources:

https://cointelegraph.com/news/binance-tigran-gambaryan-detained-nigeria

https://www.wired.com/story/binance-top-investigator-detained-nigeria/

https://www.ft.com/content/1507509b-7bbc-48a1-9828-d777036fff2b