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Binance CEO Condemns Nigeria’s Detention of Employees as ‘Dangerous Precedent

Richard Teng, CEO of Binance, has strongly criticized the Nigerian government for what he deems as setting a “dangerous precedent” with the detention of two of the exchange’s employees.

In a public statement released on May 7th, Teng expressed grave concerns over the arrest of the employees, Tigran Gambaryan and Nadeem Anjarwalla, following their invitation to participate in policy meetings in Nigeria. Teng stated that the detention of the employees sets a dangerous new precedent for companies worldwide.

According to Teng’s blog post, Gambaryan and Anjarwalla, along with Binance executives, traveled to Nigeria in early January to engage in discussions with Nigerian authorities regarding crypto regulations and compliance requirements. Despite assurances of safe passage for their meetings, Teng alleges that the two employees were unlawfully detained by Nigerian authorities.

Following their detention, Gambaryan’s team was approached by individuals suggesting a payment to settle allegations, which was refused by Binance. Teng revealed that despite numerous requests, Binance has not been provided with details of the allegations made against it by Nigerian authorities.

Gambaryan, who holds American citizenship, and Anjarwalla, a British-Kenyan, were arrested in February at an Abuja airport. Subsequently, all naira and peer-to-peer services on Binance in Nigeria were halted.

Anjarwalla allegedly fled the country using a concealed Kenyan passport, but was later arrested in Kenya at the request of the Nigerian Bureau of Interpol. Gambaryan remains in custody and is awaiting trial scheduled for May 17th.

Teng emphasized that Gambaryan must be allowed to return home and called for transparency and fair treatment in the matter. He condemned the Nigerian government’s actions and urged for a resolution to the situation.

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