Close This website uses modern features that are not supported by your browser. Click here for more information.
Please upgrade to a modern browser to view this website properly. Google Chrome Mozilla Firefox Opera Safari
your legal news hub
Sub Menu



Binance CEO slams Abuja over ‘unlawful’ graft case

Publish date: 13 May 2024
Issue Number: 1076
Diary: IBA Legalbrief Africa
Category: Criminal

The CEO of global cryptocurrency exchange platform Binance has expressed deep concern over the Nigerian Government's decision to detain one of its employees. Two Binance executives Nadeem Anjarwalla and Tigran Gambaryan were arrested while negotiating with Nigerian authorities amid a crackdown on the crypto platform. Earlier, the Nigerian Government had blocked the online platforms of Binance and other crypto firms to halt what it described as continuous manipulation of the forex market and illicit movement of funds. Anjarwalla escaped from custody after guards on duty led him visit a nearby mosque for prayers. The Premium Times reports that Teng expressed concerns over the detention of Gambaryan, a mid-level employee ‘who holds no decision-making authority within the company’. ‘It is important to note that Tigran did not go to Nigeria as a decision-maker, nor a negotiator. He was merely acting as a functional expert in financial crime and capacity building in policy discussions,’ he said. Teng said releasing Gambaryan and facilitating his return home would be a simple solution that would allow the company to continue co-operating with Nigerian law enforcement agencies, as it has done voluntarily on numerous occasions in the past.

Full Premium Times report

We use cookies to give you a personalised experience that suits your online behaviour on our websites. Otherwise, you may click here to learn more, or learn how to block or disable cookies. Disabling cookies might cause you to experience difficulties on our website as some functionality relies on cookie information. You can change your mind at any time by visiting “Cookie Preferences”. Any personal data about you will be used as described in our Privacy Policy.