Sixteen Republican congressmen have urged President Joe Biden to intervene in the detention of Binance executive Tigran Gambaryan, held in Nigeria since April. Nigeria’s federal government insists Gambaryan, head of financial crime compliance at Binance, faces legitimate charges, rejecting claims from US lawmakers that he is being “held hostage.”
The congressmen, led by House Foreign Affairs Committee Chairman Michael McCaul, addressed a letter to Biden, suggesting Gambaryan’s case be referred to the Office of the Special Presidential Envoy for Hostage Affairs. They argue that the charges against Gambaryan are baseless, describing his detention as a coercion tactic by Nigeria to extort Binance. The lawmakers assert that Gambaryan qualifies as a “U.S. Citizen wrongfully detained by a foreign government.”
Gambaryan, a US citizen, was detained alongside a colleague, who later escaped, during a visit to discuss compliance issues with Nigerian authorities. The detention came after meetings that reportedly turned hostile. Nigerian authorities subsequently charged Gambaryan and Binance with non-payment of value-added and corporate income taxes, and aiding customers in tax evasion.
Read Also:
Nigerian Information Minister Mohammed Idris refuted the allegations of wrongful detention, emphasizing that Gambaryan’s detention is lawful and necessary for the investigation. “Nobody is being kept outside our laws and nobody’s life is in danger,” Idris stated, adding, “They have committed a crime.”
Gambaryan, now held at the high-security Kuje correctional centre in Abuja, last appeared in court on May 23, with the hearing adjourned to June 20 due to his illness. The US lawmakers expressed grave concern over his wellbeing, urging immediate action to ensure his safety.
The dispute highlights ongoing tensions between Binance and Nigerian authorities, which have clamped down on cryptocurrency channels, blaming them for exacerbating the naira’s depreciation. Nigerian Central Bank Governor Olayemi Cardoso cited Binance’s involvement in illicit financial flows, contributing to the local currency’s 68 percent fall against the dollar since the easing of foreign exchange rules.
Binance, already facing legal challenges globally, including a $4.3 billion settlement for US allegations and a prison sentence for its founder Changpeng Zhao, now contends with serious accusations in Nigeria, adding to its mounting regulatory issues.
