In a recent development, the families of the detained Binance executives in Nigeria have revealed their identities. The two individuals in question are Nadeem Anjarwalla, a 37-year-old British lawyer and Kenya-based manager for the global crypto exchange, and Tigran Gambaryan, a 39-year-old former special agent in the US Internal Revenue Service and the head of Binance’s financial-crime compliance.
The executives have been in Nigerian detention since last month when they flew into the country to discuss with investigators amidst an intense scrutiny of cryptocurrency exchanges. The Nigerian authorities detained them amid a dispute with Binance, which operates in the nation without a license. The authorities have accused Binance of contributing to the devaluation of the naira and facilitating the inflow of illicit funding.
It is important to note that the executives have not been charged with a crime, and they have not been summoned for a public court hearing. The Nigerian government has not officially identified them or issued a detailed statement on the matter.
Binance, in an email response, confirmed the identities of its two executives and stated that they are working collaboratively with Nigerian authorities to bring them back safely to their families. The company emphasized that the executives are professionals with the highest integrity and expressed their trust in a swift resolution to the matter.
The detention of the Binance executives is part of a larger investigation spearheaded by the Economic and Financial Crimes Commission (EFCC), Nigeria’s anti-graft agency. The EFCC secured an order from an Abuja High Court to keep the executives in custody.
This incident highlights the ongoing tensions between Binance and Nigerian authorities, as the country demands compliance with registration and licensing requirements governing financial firms. Binance’s unlicensed operation in Nigeria has come under scrutiny, particularly as authorities accuse the exchange of enabling currency speculation and foreign exchange manipulation.