Binance Working Closely with Nigerian Authorities to Resolve Detention of Executives
Binance has been actively engaged in close cooperation with Nigerian authorities following the detention of its head of financial crime compliance.
The executive, Tigran Gambaryan, along with another Binance official , is facing accusations of laundering over $35 million.
The case, which has been adjourned until May 2, is being handled by Nigeria’s anti-corruption body.
During the Token2049 crypto conference in Dubai, Binance CEO Richard Teng addressed Gambaryan’s situation, claiming that they are working to deal with the issue.
“What I can say is we are working very closely with the Nigerian authorities to try to resolve the matter.”
Meanwhile, the other executive, Nadeem Anjarwalla, a British-Kenyan serving as a regional manager for Africa, fled Nigeria last month.
Anjarwalla and Gambaryan had traveled to Nigeria after the country implemented a ban on several cryptocurrency trading websites.
However, upon their arrival on February 26, they were detained by Nigeria’s Economic and Financial Crimes Commission (EFCC).
In addition to the EFCC case, Nigeria’s tax agency, the Federal Inland Revenue Service (FIRS), has charged Binance and the executives with tax evasion.
The tax evasion case is set to appear before a court on Friday.
Binance’s head of regional markets, Vishal Sacheendran, emphasized that the detentions were an isolated incident and unprecedented for the company.
However, he declined to comment on the charges against Binance itself.
The charges against Binance Holdings Limited and its chief executives include tax evasion, currency speculation, and money laundering amounting to $35.4 million.
Court documents reveal that charges were filed against Binance Holdings Limited,
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