Binance Executive’s Detention in Nigeria: Company’s Response

Binance Denies Executive’s Decision-Making Authority

Binance has released a statement regarding the detention of Tigran Gambaryan, an executive accused of money laundering in Nigeria. The company claims that Gambaryan is a former law enforcement professional who has no decision-making power within Binance.

Binance asserts that Gambaryan was hired in 2021 to improve compliance and has played a key role in developing policies that set industry standards. The company also highlights his track record of assisting law enforcement agencies in freezing and seizing over $2.2 billion in assets.

Nigeria Intensifies Legal Pressure

Despite Binance’s efforts to engage with Nigerian regulators, the situation has become more complex. The Nigerian government has added additional charges against Binance, escalating the legal challenges.

Another executive implicated in the case, Anjarwalla, reportedly escaped the country using a fake passport.

Binance’s Future in Nigeria

The legal battle between Binance and Nigeria continues, and the exchange’s future in the country remains uncertain. Binance Coin (BNB) has maintained a stable trading pattern despite the ongoing situation.