Binance CEO Urgently Calls for Release of Tigran, Detained Employee in Nigeria
Binance CEO Richard Teng is making a strong plea for the release of Tigran Gambaryan, an employee who has been detained by the Nigerian government for more than 70 days. Teng firmly believes in Gambaryan’s innocence and condemns the detention as a scapegoat strategy.
Recent information suggests that Nigerian officials attempted to pressure Binance representatives into a secret cryptocurrency settlement during meetings in early 2024. Teng criticizes the actions of the Nigerian government in a blog post, warning that it sets a dangerous precedent for global companies. He emphasizes the urgent need for Gambaryan’s unconditional release.
Teng draws parallels to the actions of the United States, which imposed a massive $4 billion fine on Binance and sentenced its former CEO, Changpeng Zhao, to four months in prison. While reports of Nigeria seeking a $10 billion fine from Binance have circulated, many experts dismiss them.
Teng clarifies that Gambaryan’s visit to Nigeria was not in a decision-making capacity, but rather as an expert in financial crime and policy discussions. He publicly shares the full context of the situation for the first time, expressing his relentless efforts to bring Gambaryan home.
The Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC) have remained silent on the matter, and it appears that Gambaryan’s detention originated from unofficial channels of communication between NFIU and Binance earlier this year.
The Nigerian government attributes the surge in cryptocurrency demand to the weakening national currency, with the Nigerian Naira trading at around 1,383 for one US dollar. As a precautionary measure, the Nigerian SEC proposes regulatory changes, including a potential ban on person-to-person (P2P) transactions involving the Naira.
With tensions escalating between Binance and Nigerian authorities, Teng’s call for Gambaryan’s release resonates strongly, urging a resolution to the ongoing standoff. The question remains: will Nigeria’s aggressive tactics hinder global crypto adoption? Share your thoughts.