Binance CEO Richard Teng has publicly called for the immediate release of Tigran Gambaryan, a Binance executive detained in Nigeria for over 70 days. In a recent post, from`Binance Team Teng described the detention as unjust and urged the Nigerian government to act swiftly.
Teng noted in the blog post, “To invite a company’s mid-level employees for collaborative policy meetings, only to detain them, has set a dangerous new precedent for all companies worldwide.”
Teng also showed his support for Gambaryan by posting on Twitter, claiming his arrest is unlawful.
Gambaryan, a former U.S. federal agent known for his work in financial crime compliance, has been held since February 26 after being accused alongside Binance’s Africa regional manager, Nadeem Anjarwalla, of profiting from illegal transactions.
Anjarwalla managed to escape custody on March 22, while Gambaryan remains detained. Teng highlights Gambaryan’s significant contributions to Binance’s compliance efforts and his impeccable integrity, arguing that the allegations against him are unfounded and harmful to international business relations.
The CEO also expressed concern over the chilling effect Gambaryan’s prolonged detention could have on global business operations. In response to the situation, Teng announced the suspension of certain Binance operations in Nigeria, including P2P products and trading in naira pairs, as a gesture to address regulatory issues and encourage dialogue with Nigerian authorities.
However, he emphasized that resolving Gambaryan’s case is crucial for normalizing Binance’s activities in the region.
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