Richard Teng, the CEO of cryptocurrency exchange Binance, has criticized Nigeria for setting a dangerous precedent by detaining its executives as part of a crackdown on crypto. In his strongest comments yet since the case began in February, Teng expressed concern over the detention of Tigran Gambaryan, a U.S. citizen and Binance's head of financial crime compliance, and the flight of Nadeem Anjarwalla, a British-Kenyan regional manager for Africa, who fled Nigeria in March.
The Nigerian authorities reportedly invited Binance executives for meetings in January but then detained Gambaryan and Anjarwalla in February, citing national security issues and demanding that Binance delist the naira currency from its platform. Teng described the detention as a dangerous precedent for companies worldwide, emphasizing that the executives were mid-level employees invited for collaborative policy meetings.
Gambaryan has been held in Nigeria for over two months, according to Teng, who expressed disappointment that Binance's decision to stop all transactions and trading in naira in early March did not lead to the release of its colleagues. Teng called for Gambaryan's release and stated that Binance would continue to engage with Nigeria's Federal Inland Revenue Service (FIRS) to resolve any potential historic tax liabilities.
