Nigerian Authorities Detain Two Binance Executives, Families Express Concern

Two senior executives from cryptocurrency exchange Binance, Tigran Gambaryan and Nadeem Anjarwalla, have been detained by Nigerian authorities for two weeks. They were in Abuja to address the ongoing dispute between Binance and the Nigerian government, which had ordered the blocking of access to Binance and other exchanges. Gambaryan leads Binance’s criminal investigations team, while Anjarwalla is the regional manager for Africa.

The executives have been confined to a government property in Abuja, with their passports confiscated. Despite visits from US and UK officials, they have not been able to communicate privately due to the presence of Nigerian government guards. Gambaryan’s wife, Yuki Gambaryan, expressed frustration over the lack of information about his well-being and return.

The detention is ironic given Gambaryan’s background as a former US federal agent specializing in cryptocurrency investigations. He was recruited by Binance to improve compliance and cooperate with law enforcement. Binance, when contacted, declined to provide details on the accusations or demands made by the Nigerian government but stated they are working to secure the safe return of the executives.

Binance recently discontinued all services involving the Nigerian naira (NGN) after regulatory scrutiny and announced the suspension of NGN withdrawals after March 8. The Nigerian government also imposed a $10 billion fine on Binance as part of a crackdown on the platform.