Binance has once again urged Nigerian authorities to release Tigran Gambaryan, a company executive who has been detained since February 2024. This appeal follows the circulation of a viral video on Monday, showing Gambaryan, a U.S. citizen, being denied the use of a wheelchair by prison officials. In the video, the visibly distressed executive expressed his frustration over his treatment.
“We are extremely distressed by the video of Tigran in court yesterday. This video is just a snapshot of Tigran’s current reality. His health is rapidly declining, and we are deeply concerned about the long-term consequences of this unjust detention,” a Binance spokesperson said in a statement on Tuesday. “Nigeria does not need to keep Tigran in order for us to settle any alleged past issues. We continue to implore the Government of Nigeria to let Tigran return home and let us continue our engagements.”
Gambaryan, who has been held in Kuje prison, is facing money laundering charges brought by the Economic and Financial Crimes Commission (EFCC), a charge that Binance denies. His legal team has recently filed a new bail application, citing his worsening health condition. However, the EFCC has opposed the application, citing his medical records. The court is expected to rule on the bail request on September 4.
The detention of Gambaryan and the escape of his colleague Najeem Arjawalla are part of a broader crackdown by the Nigerian government on cryptocurrency activities, despite the Central Bank of Nigeria lifting a three-year ban on crypto-related banking transactions. Gambaryan’s continued detention has sparked significant concern over Nigeria’s stance on cryptocurrency regulation.
Months after Nigerian authorities attributed the country’s currency volatility to Binance, the naira has continued to decline, while Gambaryan remains in detention. In June, two U.S. lawmakers visited Kuje prison and called for his immediate release, further increasing political pressure surrounding his case in Nigeria.
In addition, sixteen American lawmakers have accused Nigerian authorities of effectively holding the U.S. citizen hostage. On June 6, Axios reported that a group of former prosecutors and federal agents wrote to U.S. Secretary of State Antony Blinken, urging him to intensify efforts to secure Gambaryan’s release.
As the case continues to draw international attention, Binance remains adamant in its calls for Gambaryan’s release, emphasizing the urgent need for his return home.
