Fun

Binance execs detained in Nigerian capital despite country exit

News Feed - 2024-03-12 07:03:20

Helen Partz13 hours agoBinance execs detained in Nigerian capital despite country exitSenior Binance execs Tigran Gambaryan and Nadeem Anjarwalla have been detained at a government property since Feb. 26.4335 Total views30 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksDespite Binance announcing its exit from Nigeria last week, two of its senior executives are reportedly still being detained in the country"s capital, Abuja.


Tigran Gambaryan, a former cryptocurrency-focused United States federal agent, and a second Binance executive, Nadeem Anjarwalla, have been held in Abuja without passports for two weeks, Wired reported on March 12.


Gambaryan, head of Binance’s criminal investigations team, and Anjarwalla, Binance Kenya-based regional manager for Africa, have been detained at a government property since Feb. 26, 2024.


According to Gambaryan and Anjarwalla’s families, Nigerian prosecutors have not provided information on whether the two face criminal charges.


“There’s no definite answer for anything: how he’s doing, what’s going to happen to him, when he’s coming back,” Gambaryan’s wife, Yuki Gambaryan, reportedly said.


A spokesperson for Binance confirmed to Cointelegraph that Gambaryan and Anjarwalla were still detained in Nigeria as of March 12, stating:“While it is inappropriate for us to comment on the substance of the claims at this time, we can say that we are working collaboratively with Nigerian authorities to bring Nadeem and Tigran back home safely to their families.”


The Binance representative stressed that both execs are “professionals with the highest integrity” and that the exchange is confident that there will be a swift resolution to this matter.


The first reports on the arrests of Gambaryan and Anjarwalla surfaced in late February, with the Financial Times reporting on the detentions without identifying them on Feb. 28.Gambaryan at an event by Consensus. Source: WSJ


Gambaryan, a United States citizen, and Anjarwalla, a dual citizen of the United Kingdom and Kenya, reportedly arrived in Abuja on Feb. 25, according to their families. The execs came to Nigeria following the Nigerian government’s invitation to address the ongoing dispute with Binance regarding its allegedly unlawful operations there.


The execs reportedly met with Nigerian officials the next day, intending to discuss the government’s order to the country’s telecom providers to block access to Binance and other crypto exchanges. The officials blamed crypto exchanges for devaluing Nigeria’s official currency, the naira, and enabling “illicit flows” of funds.


But instead of finding common ground regarding the argument, Gambaryan and Anjarwalla were taken to their hotels soon after the first meeting, ordered to pack their things and brought to a “guesthouse” run by Nigeria’s National Security Agency, according to their families. Officials also seized their passports and have since held the two men at the house against their will, it is alleged.


Related:Binance exit sparks fears and opportunities in Nigeria’s crypto community


According to Wired, Gambaryan has been visited by a U.S. State Department official and Anjarwalla by a representative of the U.K. Foreign Office. Nigerian government guards have remained present in those meetings, preventing them from speaking privately.


The arrests of Gambaryan and Anjarwalla came a few days before Binance officially announced its complete exit from Nigeria on March 5.


According to the company’s exit roadmap, Binance suspended naira withdrawals on March 8 and removed all trading pairs involving the naira on March 7. The platform also previously disabled peer-to-peer trading with the naira in late February.


Magazine:Is measuring blockchain transactions per second (TPS) stupid in 2024? Big Questions# Bitcoin# Nigeria# Africa# Naira# Binance# RegulationAdd reactionAdd reaction

News Feed

Chinese Regulator Investigates Firm’s Blockchain Efforts Amid Stock Surge
An obscure porcelain and education firm is under investigation by a top Chinese regulator after it became one of the most sought-after blockchain stocks last week. Guangdong Great W
More Than 80% of the Funds Locked in Decentralized Finance Are Kept on 5 Chains, 21 Different Defi Protocols
More Than 80% of the Funds Locked in Decentralized Finance Are Kept on 5 Chains, 21 Different Defi Protocols In mid-March, the top five blockchains — in terms of total value
Whale Grabs 506 Billion PEPE—Is A Price Explosion Near?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
US Banks Can Now Hold Reserves for Stablecoin Issuers, Says Federal Banking Regulator
US Banks Can Now Hold Reserves for Stablecoin Issuers, Says Federal Banking RegulatorThe U.S. Office of the Comptroller of the Currency (OCC) on Monday published a letter clarifying
Biggest Movers: DOGE Surges Following Elon Musk Comments on the Meme Coin
Biggest Movers: DOGE Surges Following Elon Musk Comments on the Meme Coin Dogecoin was one of the only crypto tokens to trade higher on Saturday, as comments from Elon Musk boosted
Woo X exchange launches world’s first tokenized T-bills for retail
Zoltan Vardai12 hours agoWoo X exchange launches world’s first tokenized T-bills for retailThe real-world assets sector continues generating interest as the second most profitable crypto narrative in the first quarter
Japan’s Third Largest Bank Completes Blockchain Trade Finance Test
Sumitomo Mitsui Banking Corporation (SMBC), the third largest bank by assets in Japan, is set to begin utilizing R3’s Marco Polo trade finance blockchain on a commercial basis by the end of the year.
US Senators Probe Crypto Exchange Binance About ‘Potentially Illegal Business Practices’
US Senators Probe Crypto Exchange Binance About "Potentially Illegal Business Practices" Three U.S. senators have asked crypto exchanges Binance and Binance US for documents and a
Berkshire Hathaway’s Charlie Munger Advises Investors to Never Buy Bitcoin or Gold
Berkshire Hathaway’s Charlie Munger Advises Investors to Never Buy Bitcoin or Gold Berkshire Hathaway’s vice chairman and Warren Buffett’s long-tim
Was the ETH price flash crash to $3,180 triggered by excessive leverage?
Marcel Pechman5 hours agoWas the ETH price flash crash to $3,180 triggered by excessive leverage?Demand for Ether leverage sharply increased in the past 24 hours, but data does not point to liquidations being the main dr
‘Bitcoin Is the Biggest Jailbreak in Human History,’ Says Philosopher Stefan Molyneux
"Bitcoin Is the Biggest Jailbreak in Human History," Says Philosopher Stefan Molyneux On February 19, the Canadian podcaster and Freedomain Radio host, Stefan Mo
China Is Drafting Laws for the Circulation of National Digital Currency
China Is Drafting Laws for the Circulation of National Digital Currency Amid the coronavirus pandemic, China’s central bank has reportedly completed the basic development o