Binance Decries Detention of Executive in Nigeria, Demands Release

ABUJA, (iexclusivenews) – Binance, the global cryptocurrency exchange behemoth, has vehemently condemned the detention of Tigran Gambaryan, one of its executives, in Nigeria’s Kuje Prison.

The company has branded the incarceration as excessive and is calling for his immediate release to pave the way for constructive negotiations with the Nigerian government.

Company’s Reaction to Executive’s Detention

The statement released by Binance on Monday conveyed the company’s profound disappointment over the continued detention of Gambaryan, who holds no executive decision-making power.

The firm described the decision to keep him in Kuje Correctional Facility as “outrageous,” and insisted that the charges against him are baseless.

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Judicial Proceedings and Gambaryan’s Stance

Binance Decries Detention of Executive in Nigeria, Demands Release

Gambaryan’s plea to be moved from Kuje prison to the custody of the Economic and Financial Crimes Commission (EFCC) was rejected by the Abuja Division of the Federal High Court.

A U.S. citizen at the helm of Binance’s financial crime compliance, Gambaryan has denied all accusations in the five-count money laundering charge against him.

The court has ordered that Gambaryan will stay in detention at Kuje prison until it reconvenes to decide on his bail application. The trial is expected to begin on May 2.

Binance’s Contributions and Arrest Details

Before his arrest, Gambaryan had played a pivotal role in training EFCC officials and assisted in recovering $400,000 for Nigeria.

His arrest, along with Nadeem Anjarwalla, Binance’s Africa regional manager, by National Security Adviser Nuhu Ribadu, has caused a stir. Anjarwalla managed to flee custody and left Nigeria soon after.

A Plea for Fairness

Binance maintains that the allegations against Gambaryan are unfounded and continues to call for his release, which they believe is crucial for the ongoing dialogue with Nigerian authorities. The crypto community is closely monitoring the unfolding events.