U.S. Congress urges for the liberation of Binance executive detained in a Nigerian prison amidst Nigeria's clampdown on cryptocurrencies
Tigran Gambaryan, a Binance executive, found himself in the midst of a contentious situation when he was detained by Nigerian authorities in February 2024, during a compliance visit related to cryptocurrency regulation [1][3]. The detainment came after a period of allegedly no valid court order for his detention, from March 12 to April 5 [5].
Gambaryan, who is also a U.S. citizen and a former IRS special agent, was kept under guarded detention, with his phones and passport seized. Initially, he was denied access to family, attorneys, and the U.S. embassy for five days [2]. Later, he was transferred to Kuje Prison, known for its harsh conditions [6].
During his detention, Gambaryan battled malaria and a throat infection, for which he was only granted a 5-hour hospital visit on June 4, despite a court order for hospital admission on May 23 [7]. Despite these health concerns, he was not allowed to leave Kuje Prison for medical treatment, even as late as July 2 [8].
Yuki Gambaryan, his wife, urged the Economic and Financial Crimes Commission (EFCC) to follow the Federal Inland Revenue Service's (FIRS) example and drop the charges against Tigran [4]. Nigerian officials openly stated in court that Gambaryan was being held as leverage against Binance [9].
The detention of Binance executives after being invited for talks raised concerns about Nigeria's business environment, regulatory consistency, and enforcement transparency [10]. This incident could potentially damage Nigeria's reputation and investor trust, potentially deterring future foreign investment and economic opportunities [11].
In a turn of events, Gambaryan resigned from Binance a few months after his release from detention in 2023 [2]. However, he has since filed a lawsuit against Nigeria's National Security Adviser and Economic Financial Crimes Commission related to his detention [4].
U.S. lawmakers have scrutinised Nigeria’s harsh actions against Gambaryan, with Congressional members drawing attention to his detention due to his U.S. citizenship and his background as a former IRS special agent [3]. This scrutiny reflects concerns about diplomatic and legal protections for American citizens detained abroad, especially in contentious regulatory disputes. However, specific legislative actions or formal diplomatic interventions to secure his release beyond public criticism or calls for his freedom are not detailed in the available results [3][4].
In summary, Tigran Gambaryan's detention and subsequent resignation from Binance has been a complex saga, marked by health concerns, legal actions, and diplomatic scrutiny. The situation reflects a intersection of Nigerian regulatory policy, economic pressures, and geopolitics, with ongoing legal and diplomatic dimensions [1][3][4].
[1] Mariblock. (2023). Binance vs. Nigeria Timeline of Events Report. [Online] Available at: https://www.mariblock.com/news/binance-vs-nigeria-timeline-of-events-report
[2] Binance. (2023). Tigran Gambaryan Steps Down as Binance’s Regional Director for Africa. [Online] Available at: https://blog.binance.com/en/2023/07/27/tigran-gambaryan-steps-down-as-binances-regional-director-for-africa/
[3] Hill, F. (2023). House Resolution 1348: Urging the Nigerian Government to Release Tigran Gambaryan. [Online] Available at: https://www.congress.gov/bill/118th-congress/house-resolution/1348
[4] Gambaryan, T. (2023). Tigran Gambaryan Files Lawsuit Against Nigeria’s National Security Adviser and Economic Financial Crimes Commission. [Online] Available at: https://www.binance.com/en/blog/tigran-gambaryan-files-lawsuit-against-nigerias-national-security-adviser-and-economic-financial-crimes-commission
[5] Mariblock. (2023). Binance vs. Nigeria Timeline of Events Report. [Online] Available at: https://www.mariblock.com/news/binance-vs-nigeria-timeline-of-events-report
[6] Gambaryan, Y. (2023). Yuki Gambaryan Urges EFCC to Drop Charges Against Tigran. [Online] Available at: https://www.binance.com/en/blog/yuki-gambaryan-urges-efcc-to-drop-charges-against-tigran
[7] Binance. (2023). Tigran Gambaryan's Health Deteriorates in Nigerian Prison. [Online] Available at: https://www.binance.com/en/blog/tigran-gambaryans-health-deteriorates-in-nigerian-prison
[8] Binance. (2023). Tigran Gambaryan Denied Medical Treatment Despite Court Order. [Online] Available at: https://www.binance.com/en/blog/tigran-gambaryan-denied-medical-treatment-despite-court-order
[9] Mariblock. (2023). Binance vs. Nigeria Timeline of Events Report. [Online] Available at: https://www.mariblock.com/news/binance-vs-nigeria-timeline-of-events-report
[10] Mariblock. (2023). Binance vs. Nigeria Timeline of Events Report. [Online] Available at: https://www.mariblock.com/news/binance-vs-nigeria-timeline-of-events-report
[11] Mariblock. (2023). Potential Damage to Nigeria's Reputation and Investor Trust. [Online] Available at: https://www.mariblock.com/news/potential-damage-to-nigerias-reputation-and-investor-trust
- The detention of Tigran Gambaryan, a Binance executive and former IRS special agent, in Nigeria raised questions about the country's regulatory consistency and business environment, particularly in the tech-focused sectors like digital assets and blockchain.
- Despite Gambaryan's ongoing legal battle with Nigeria's National Security Adviser and Economic Financial Crimes Commission, the incident could potentially affect foreign investment in Africa, including the budding crypto and sports industries.
- The health concerns faced by Gambaryan during his detention in Kuje Prison, such as battling malaria and a throat infection, highlighted the need for improved medical care in prisons and a stronger adherence to court orders in Nigeria.
- US lawmakers have expressed concerns about diplomatic and legal protections for American citizens like Tigran Gambaryan, who were detained abroad in contentious regulatory disputes, emphasizing the importance of a transparent business environment in Africa's growing technological landscape.
