Business News

Charges Against Gambaryan by Nigerian Government Meritless—Binance


By Aduragbemi Omiyale

The popular cryptocurrency exchange platform, Binance, has described the charges against one of its employees, Mr Tigran Gambaryan, as meritless, calling for his release from detention.

Mr Gambaryan honoured an invitation by the federal government to discuss ways to tackle the use of Binance for unauthorised financial transactions.

He arrived in the country in February alongside another member of staff of the organisation, Mr Nadeem Anjarwalla, who is now at large.

After getting to Nigeria, they were immediately detained by the Office of the National Security Adviser (ONSA), but Mr Anjarwalla escaped from custody and has reportedly been found in Kenya.

Mr Gambaryan was arraigned in court along with Binance over charges bordering on tax invasion, money laundering and terrorism financing.

Last Friday, Justice Emeka Nwite of the Federal High Court sitting in Abuja denied Mr Gambaryan bail, saying he would likely jump bail if granted.

Reacting to the ruling, Binance expressed disappointment over the bail denial, saying its employee was being denied his freedom for an offence he did not commit.

“We are deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained.

“Tigran has been dedicated to public service and fighting crime for most of his life. These charges against him are completely meritless.

“He should be freed while discussions continue between Binance and Nigerian government officials.” A statement from a Binance spokesperson made available to Business Post stated.