Binance urges Nigeria to end “unjust detention” of a company executive following a viral video.
Binance has once again urged Nigerian authorities to release Tigran Gambaryan, a company executive arrested since February 2024. On Monday, a video of a US citizen being denied access to a wheelchair by prison officials went viral. The visibly distraught businessman was shown expressing anger with his treatment.
“We are quite concerned about the video of Tigran in court yesterday. This video is simply a snapshot of Tigran’s current situation.
His health is rapidly deteriorating, and we are extremely concerned about the long-term repercussions of this unfair detention,” a Binance spokeswoman said in a statement on Tuesday.
“Nigeria is not required to maintain Tigran in order for us to resolve any claimed previous concerns. We continue to ask the Nigerian government to allow Tigran to return home and for us to continue our engagements.
Gambrayan, a US resident remanded in Kuje prison, faces money laundering accusations brought by the Economic and Financial Crimes Commission (EFCC) with Binance, which the latter rejects.
His lawyers submitted a second bail application, citing his failing health. However, the EFCC lawyer rejected the application based on his medical documents. The court will decide on the bail application on September 4.
Gambaryan and his fugitive colleague Najeem Arjawalla were detained as part of Nigeria’s cryptocurrency crackdown, despite the Central Bank removing a three-year prohibition on crypto-related banking activities.
Gambaryan’s continuing arrest has raised major concerns about Nigeria’s strong line on cryptocurrency. Months after authorities accused Binance for currency volatility, the naira has plummeted, but the Binance CEO remains detained. Following a visit to Kuje jail in June, two US legislators advocated for his immediate release, raising political pressure on his prosecution in Nigeria.
Sixteen US legislators also accused Nigerian officials of holding an American person captive.
On June 6, Axios reported that former prosecutors and federal agents wrote to US Secretary of State Anthony Blinken, urging him to “step up” efforts to gain Gambaryan’s release.