As a researcher with a background in international business and economics, I find the situation between Binance and the Nigerian government deeply concerning. The detention of two mid-level employees without clear justification sets a dangerous new precedent for companies worldwide.
The CEO of Binance, Richard Teng, has expressed concern that the Nigerian authorities’ decision to detain two of the company’s employees sets a potentially harmful precedent for businesses everywhere.
The apprehension of two intermediate-ranking staff members after being asked to participate in policy discussions in Nigeria establishes a “worrisome new trend for businesses globally,” according to Binance CEO Richard Teng, as expressed in a public announcement on May 7th.
As a researcher, I recently came across an intriguing blog post by Teng. In this post, Teng disclosed some interesting details about Binance’s executives, Tigran Gambaryan and Nadeem Anjarwalla, who were supposed to visit Nigeria before their arrest. Prior to their journey, they were guaranteed “safe passage” for their meetings, as assured by unspecified individuals. However, despite this promise, the two executives encountered an unexpected turn of events. Regrettably, they were allegedly “unlawfully detained” by Nigerian authorities upon arrival.
Following the news of Tigran and Nadeem’s arrest that spread in the international media shortly after, it was revealed on March 23rd that Nadeem had been released from unlawful custody. However, events took a turn for the worse for Tigran from that moment on.
Richard Teng
According to reports, Tigran Gambaryan and his team made their initial trip to Nigeria around the beginning of January, representing Binance in discussions with Nigerian government officials. The purpose of these meetings was to address any apprehensions and gain a better understanding of the regulations and conditions for crypto usage in the country.
The results of those meetings are still up in the air. However, as reported by Teng, Gambaryan’s team was approached by unidentified individuals who proposed they pay to resolve the accusations upon leaving. Later on, Binance’s legal representative received a call from an individual claiming association with Nigeria’s Financial Crimes Committee.
As a researcher, I’ve uncovered some concerning information. The counsel informed me that they had received a request for a large cryptocurrency payment, which was supposed to be kept confidential and paid within the next 48 hours in order to resolve certain issues. It is expected that our response will be communicated by morning.
Richard Teng
As a crypto investor, I’ve been closely monitoring the situation with Binance in Nigeria. Recently, the Binance CEO expressed growing unease about the regulatory environment and made the decision to withdraw from the country promptly. Instead of making the payment via legal representation, they chose to leave the matter unresolved.
“Our legal team refused the payment request, which we didn’t consider a valid settlement proposal.”
Richard Teng
As a researcher, I’ve come across information where the Binance CEO expressed his disappointment over not receiving specific details regarding allegations made against Binance by Nigerian authorities. He reiterated that for any potential resolution, it is essential for Tigran to be permitted to return home first.
Gambaryan, a U.S. citizen, was apprehended together with British-Kenyan Nadeem Anjarwalla by Nigerian law enforcement in February. The duo was detained at Abuja airport upon request of Binance representatives’ presence in the city. Following their arrest, Binance suspended all naira transactions and peer-to-peer services in Nigeria.
I was allegedly accused of leaving the country in March, hiding my Kenyan passport from view. Subsequently, it was reported that Nigerian authorities had tracked down the Binance representative, who was arrested in Kenya based on a request from the Nigerian Interpol Bureau. Currently, Gambaryan is detained and preparing for a trial set to take place on May 17.
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2024-05-07 12:35