Binance executives apprehended in Nigeria’s capital despite company’s departure from the country

Despite Binance’s recent announcement of its withdrawal from Nigeria, it appears that two senior executives of the company are still being detained in Abuja, the country’s capital. Tigran Gambaryan, a former cryptocurrency-focused federal agent from the United States, and Nadeem Anjarwalla, a Binance executive based in Kenya, have been held without passports at a government property since February 26, 2024. The families of Gambaryan and Anjarwalla have not received any information regarding potential criminal charges against them from Nigerian prosecutors. Yuki Gambaryan, Tigran Gambaryan’s wife, expressed her frustration over the situation, stating that they have no clarity on his well-being, future, or return. Binance has confirmed that both executives are still detained in Nigeria as of March 12 and emphasized their professionalism and integrity, expressing confidence in a swift resolution to the matter. The arrests occurred shortly before Binance officially announced its exit from Nigeria on March 5. Gambaryan and Anjarwalla had traveled to Abuja in response to an invitation from the Nigerian government to address the ongoing dispute between Binance and the country regarding its alleged illegal operations. However, instead of finding a resolution, they were taken to their hotels after their initial meeting, asked to pack their belongings, and subsequently brought to a guesthouse operated by Nigeria’s National Security Agency, where their passports were confiscated. According to their families, they have been held against their will ever since. Wired reported that Gambaryan was visited by a U.S. State Department official, while Anjarwalla was visited by a representative from the U.K. Foreign Office. However, Nigerian government guards have been present during these meetings, preventing any private conversations. Binance’s exit from Nigeria involved the suspension of naira withdrawals and the removal of all trading pairs involving the naira from the platform. Peer-to-peer trading with the naira had already been disabled in late February.