- Binance CEO Richard Teng stated the company is collaborating closely with Nigerian authorities following the detention of its head of financial crime compliance, Tigran Gambaryan, accused of laundering over $35 million.
- Another executive, Nadeem Anjarwalla, fled Nigeria after arriving with Gambaryan, following the country’s ban on several cryptocurrency trading websites. Both of them were detained by Nigeria’s anti-corruption body.
Binance is working closely with Nigeria authorities to resolve its executives’ detention, Binance CEO Richard Teng has said.
Binance CEO reveals collaboration with Nigerian authorities
Previously, the detention of Binance’s head of financial crime compliance, Tigran Gambaryan, and another executive, Nadeem Anjarwalla, on allegations of laundering over $35 million sparked a frenzy within the crypto community.
The CEO of the cryptocurrency exchange said on Thursday the company is working very closely with Nigerian authorities following the detention of its head of financial crime compliance.
“What I can say is we are working very closely with the Nigerian authorities to try to resolve the matter,” CEO Richard Teng said, speaking about Gambaryan’s case during the Token2049 crypto conference in Dubai.
Also read: Binance executive escapes Nigerian custody
Also read: Binance executive Arjarwalla escapes to Kenya, extradition underway
About Binance in Nigeria
A Nigerian court has adjourned until May 2 a case against the executive, Tigran Gambaryan, and Nadeem Anjarwalla, who are accused of laundering more than $35 million, the country’s anti-corruption body said on April 8. Nadeem Anjarwalla, a British-Kenyan who is a regional manager for Africa, fled Nigeria last month.
Anjarwalla and Gambaryan flew to Nigeria following the country’s decision to ban several cryptocurrency trading websites and were detained on arrival on Feb. 26 by Nigeria’s anti-corruption body the Economic and Financial Crimes Commission (EFCC).
In addition to the case brought by the EFCC, Nigeria’s tax agency, the Federal Inland Revenue Service (FIRS), has charged Binance and the executives with tax evasion, a case that will appear before a court on Friday.
“This was a one-off. It’s never happened to us before,” Binance’s head of regional markets Vishal Sacheendran downplayed the severity of the situation.
