Tigran Gambaryan, Binance’s head of financial crime compliance, has publicly shared the harrowing details of his detention in Nigeria, where he claims he was held hostage by authorities. Speaking at the DC Blockchain Summit on March 26, Gambaryan revealed that the charges of tax evasion and money laundering were a mere pretext for a deeper agenda. He described his detention as an attempt by Nigerian officials to leverage him for financial gains, stating, “Before that, they kinda saw me as an asset they could use to get their billions out of Binance.”
Gambaryan’s ordeal began on February 25, 2024, when he arrived in Nigeria with fellow Binance executive Nadeem Anjarwalla to discuss the company’s operations. Just one day later, both men were arrested by Nigerian authorities, who accused Binance of facilitating illicit financial transactions. Gambaryan was charged with money laundering, though he claims he had no prior knowledge of any wrongdoing.
The situation quickly deteriorated as Gambaryan was denied bail and sent to Kuje Prison under harsh conditions. His health rapidly declined, and he contracted pneumonia and malaria, in addition to suffering from a herniated disc. A disturbing video from September 2024, showing Gambaryan struggling to walk in court, sparked widespread outrage among his supporters.
In response to the arrest, Binance ceased all services involving Nigeria’s national currency, the naira, and pulled its operations from the country entirely. However, Nigerian authorities continued to detain Gambaryan despite these actions. Over the following months, pressure from U.S. lawmakers and international organizations grew, calling for his release.
On October 23, 2024, after intense diplomatic efforts, Gambaryan was finally allowed to return to the United States. Reflecting on his ordeal at the DC Blockchain Summit, Gambaryan expressed his frustration, stating, “Hopefully, those that did this will one day face justice.” Throughout his detention, his family fought tirelessly for his release, concerned for his health and the fairness of the process.
The Nigerian government has denied all of Gambaryan’s claims. On March 13, 2024, the Ministry of Information issued a statement labeling his accusations as “baseless” and “without merit,” and they have not commented further since.
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