Binance offers to settle issues with Nigerian government, demands release of detained executive

Cryptocurrency giant Binance Holdings Limited has expressed willingness to resolve ongoing disputes with the Nigerian Government, conditional on the release of its detained executive, Tigran Gambaryan.

Gambaryan was arraigned on Monday at the Federal High Court in Abuja for alleged money laundering and was denied a wheelchair, forcing him to enter the court on crutches, visibly in pain.

Binance denounced the Nigerian Government’s treatment of Gambaryan, citing a video showing his mistreatment. The company’s spokesperson stated, “We are deeply concerned about Tigran’s well-being and the unfair conditions he’s facing.”

The Economic and Financial Crimes Commission (EFCC) opposed Gambaryan’s bail application, despite his lawyers’ pleas for medical grounds and restricted access for trial preparation. The bail hearing is set to continue on September 4th, with the judge ordering that Gambaryan be allowed to use a wheelchair.”

The spokesperson of Binance, in a statement sent to the Daily Post Nigeria, said: “A video circulating shows the mistreatment and pain he’s enduring. The judge ordered that Tigran be allowed to use a wheelchair, with the bail hearing continuing on September 4th. We are sharing an official statement from Binance on this matter.

“We are extremely distressed by the video of Tigran in court yesterday. This video is just a snapshot of Tigran’s current reality. His health is rapidly declining and we are deeply concerned about the long term consequences of this unjust detention.

“Nigeria does not need to keep Tigran in order for us to settle any alleged past issues. We continue to implore the Government of Nigeria to let Tigran return home and let us continue in our engagements.

“Our recent resolutions with Brazil and India demonstrate how historical issues can be resolved through constructive dialogue and adherence to legal standards. This is the international standard of doing business.”

Nigeria accused Binance for its currency woes after cryptocurrency websites became the preferred platforms for trading the Nigerian naira.

In recent times, the government has cracked down heavily on the activities of Binance and also detained its top officials as part of efforts to curb volatility in the forex market.