Tigran Gambaryan, head of Binance’s criminal investigations team, and Nadeem Anjarwalla, the cryptocurrency exchange’s regional manager for Africa, have been detained in Nigeria since February 26th.
The executives were held following their arrival in Abuja to discuss an ongoing dispute with the Nigerian government regarding untraceable funds allegedly processed through Binance.
According to reports, Gambaryan and Anjrwalla have been held at a guesthouse operated by the Nigerian National Security Agency. Officials from the U.S. and UK governments have visited the detained executives under Nigerian government escort.
The dispute came as a result of allegations made by the Nigerian government against Binance, claiming that approximately $26 billion in untraceable funds were processed and laundered through the platform. Moreover, the Nigerian government reportedly asked Binance to pay a $10 billion fine for its involvement in transactions within the country.
In connection with the event, a Binance spokesperson announced the arrestee’s detention and assured that the company would fulfill its responsibility by cooperating with Nigerian authorities to reunite the arrested with their families.
What was stated by the spokesperson who prioritized the professionalism and integrity of the detained executives was that Binance would fully back them at this time and that he or she was pretty sure that the situation would blow over shortly.
Despite Binance announcing its exit from Nigeria last week, the detention of the two senior executives highlights the ongoing tensions between the cryptocurrency exchange and Nigerian authorities over the alleged financial irregularities.
Also Read: Experts Warn of Job Losses in Binance’s Nigeria Exit
