Binance, the most popular crypto firm in the world, is currently facing scrutiny in Nigeria, as its executive is being detained in the office of Nigeria’s national security adviser (NSA). However, the crypto firm has demand for the release of the executive Tigran Gambaryan from Nigerian custody, citing that the detained personnel doesn't have any authority to make decisions at Binance and shouldn't be held responsible for the accusations against the company.
Last week, Nigerian government charged Binance with tax evasion, citing that the crypto exchange hasn't paid income tax, value-added tax, and failed to file tax returns. FG even allege Binance helps its Nigerian users avoid taxes.
The detained executive Tigran Gambaryan, a former United State Agent, were initially held together in Abuja with Nadeem Anjarwalla, Binance’s Kenya-based regional manager for Africa who fled the country with a smuggled passport, the office of Nigeria’s national security adviser (NSA) said. This is Gambaryan’s fifth week in detention amidst alleged roll in FX crisis. However, FG has sought an international arrest warrant for Anjarwalla.
Last week; before the escape of Anjarwalla, both detained executives filed a Fundamental Human Rights abuse lawsuit at the Federal High Court in Abuja demanding their release, passport return, and a public apology from the NSA and EFCC. According to a report, the Economic and Financial Crimes Commission (EFCC) has initially accused Binance of facilitating money laundering, terrorist financing, and manipulation of foreign exchange rates.
Binance, on the ohter hand, has emphasized that Tigran Gambaryan, head of its Financial Crime Compliance team since 2021, has a history of collaboration with Nigerian law enforcement. Binance, through a spokeman, also claim Gambraryan's expertise helped tackle fraud and money laundering, recovering up to $400,000.
Additionally, Binance states that Gambaryan's team actively trained Nigerian authorities on the role of cryptocurrency exchanges within the digital asset landscape. In essence, the spokeman has made it cleat that Binance is currently working with the Nigerians authorities to reach a swift resolution on the matter.