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Family Members Speak Out on Detention of Binance Executives in Nigeria

by Vicky Oselumese
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Relatives Speak Out on Detention of Binance Executives in Nigeria

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Relatives of the two Binance executives detained in Nigeria during a crackdown on the crypto exchange platform have expressed hope for a quick resolution with the Nigerian authorities.

The detained individuals are Tigran Gambaryan, Binance’s head of financial crime compliance, and Nadeem Anjarwalla, Binance’s regional manager for Africa.

Gambaryan is an American citizen, while Anjarwalla holds citizenship in the UK and Kenya. The Nigerian government detained the executives in Abuja, the federal capital territory, after they arrived in the country to negotiate with the government amid the crackdown on the crypto platform.

The meetings between the executives and Nigerian officials were deadlocked as the demands put forward by the government were not met. The executives were also accused of operating a business worth billions without the necessary registrations and documentation.

According to sources, the executives requested to be taken to their respective countries’ embassies before complying with the demands of the Nigerian authorities.

Subsequently, the Nigerian government obtained a court warrant to detain the officials for at least twelve days. The families of the detained executives claim that the two men had a meeting with officials from Nigeria’s central bank, securities regulator, national security arm, and financial intelligence arm upon their arrival in Nigeria.

However, after the meeting, the executives were escorted back to their hotel, asked to pack their belongings, and taken to a guarded house without any explanation.

The families have not been informed about the nature of the probe, although the executives are allowed to use their phones under supervision. The wives of the executives expressed concern for their husbands’ well-being and hope for their release soon. The detention of the Binance executives in Nigeria comes after the platform pleaded guilty to criminal money laundering charges in the United States and agreed to pay a settlement of $4.3 billion.

Binance’s founder and CEO, Changpeng Zhao, also known as CZ, pleaded guilty and agreed to step down from his position.

The Office of the National Security Adviser (ONSA) in Nigeria has not provided any updates on the investigations into Binance’s operations. The security office confirmed earlier that it was coordinating an interagency investigation into the activities of Binance.

As the ordeal continues, the families of the detained executives remain hopeful for a swift resolution and the safe return of their loved ones.


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