The Binance CEO claimed that the detained employee did not go to Nigeria as a 'decision-maker,' nor a 'negotiator
The CEO of global cryptocurrency exchange platform Binance, Richard Teng, on Tuesday expressed deep concern over the Nigerian government's decision to detain one of its employees.
In February, two of Binance executives, Nadeem Anjarwalla and Tigran Gambaryan, arrived in Nigeria to negotiate with the Nigerian authorities amid a crackdown on the crypto platform.
Earlier, the Nigerian government had blocked the online platforms of Binance and other crypto firms to halt what it described as continuous manipulation of the forex market and illicit movement of funds.
Mr Anjarwalla later in March escaped from lawful custody after guards on duty led him to a nearby mosque for prayers.
In a blog post on Tuesday, Mr Teng expressed concerns over the detention of Mr Gambaryan, a mid-level employee "who holds no decision-making authority within the company".
"It is important to note that Tigran did not go to Nigeria as a 'decision-maker,' nor a 'negotiator.' He was merely acting as a functional expert in financial crime and capacity building in policy discussions.
"The message from the Nigerian government is clear: we must detain an innocent, mid-level employee and a former U.S. federal agent, and place him in a dangerous prison to control Binance," he said.
Mr Teng said despite Binance's efforts to engage constructively with Nigerian authorities and comply with their requests, Mr Gambaryan remains detained.
He said releasing Mr Gambaryan and facilitating his return home would be a simple solution that would allow the company to continue cooperating with Nigerian law enforcement agencies, as it has done voluntarily on numerous occasions in the past.
He reiterated Binance's commitment to protecting innocent users and removing bad actors from its platform, emphasizing its readiness to engage with Nigeria's tax authorities to resolve any potential tax liabilities.
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"Let Tigran go home to his family, and then Binance will work through the same process that we have done with Nigeria's law enforcement community voluntarily more than 600 times in the past. We will always work to protect innocent users, and bad actors are not welcome on our platform. We will work tirelessly with public and private partners to remove them.
"Furthermore, we will continue engagement with Nigeria's Federal Inland Revenue Service (FIRS) on resolving potential historic tax liabilities," he said.
The Federal High Court at the last hearing postponed the trial involving Binance and its two executives until 17 May.
The case pertains to allegations of money laundering and tax evasion, with additional concerns raised by the government regarding the potential manipulation of the local currency through peer-to-peer trading on the platform.
Mr Gambaryan pleaded not guilty and was ordered to be remanded in Kuje Correctional Centre.
