The recent arrest and detention of Tigran Gambaryan, an executive at Binance, has sparked outrage and raised concerns about the treatment of foreign employees in Nigeria. Binance CEO Richard Teng has called for the release of Gambaryan, citing the unjust nature of his detention and the dangerous precedent it sets for companies operating globally.
Gambaryan, a US citizen who heads Binance’s financial crime compliance department, was detained along with Nadeem Anjarwalla, Binance’s regional manager for Africa, upon their arrival in Nigeria’s capital, Abuja, on Feb. 26. While Anjarwalla managed to escape, Gambaryan remains in custody. Teng emphasized that Gambaryan was not in Nigeria in a decision-making or negotiating capacity, but rather as an expert in financial crime and policy discussions.
Teng accused the Nigerian government of detaining Gambaryan as a means to exert control over Binance. He highlighted the message being sent by Nigeria’s actions, stating that an innocent employee was being placed in a dangerous prison in order to control the exchange. This move is seen as a blatant violation of Gambaryan’s rights and a troubling display of governmental power.
Teng urged Nigeria to release Gambaryan and allow him to return to his family. He expressed a willingness for Binance to cooperate with Nigerian law enforcement, as they have done over 600 times in the past. The CEO’s plea for justice and fairness in this situation reflects a deep concern for the well-being of his employee and the principles of transparency and integrity in business operations.
In his blog post, Teng revealed that the exchange had received demands for a significant payment in crypto from individuals claiming to represent Nigeria’s House Committee on Financial Crimes. These requests, made in secret, raised suspicions of corruption and bribery within the Nigerian government. The New York Times also reported an incident where a Nigerian official had solicited a bribe of $150 million in cryptocurrency from Gambaryan.
The detention of Tigran Gambaryan is a troubling example of injustice and abuse of power. Binance’s CEO’s call for his release and condemnation of Nigeria’s actions highlight the need for transparency, fairness, and respect for the rule of law in international business dealings. It is crucial for all parties involved to uphold ethical standards and ensure the protection of individuals’ rights, regardless of their position or nationality.