The U.S. House Foreign Affairs Committee has passed a resolution asking the U.S. government to declare Tigran Gambaryan, a Binance executive, as a “wrongfully detained U.S. citizen” by Nigeria. Tigran, who oversees financial crime compliance at Binance, has been in jail in Nigeria since February 28.
Tigran and his colleague, Nadeem Anjarwalla, were arrested in Nigeria on February 28, 2024, accused of money laundering and tax evasion amid high tensions between Binance and the Nigerian government.
Rumors of their arrests initially spread on social media before being confirmed. Their detention coincided with the Nigerian government’s efforts to stabilize the country’s currency amidst concerns about speculative trading, illicit financial activities, and plans to attract foreign direct investment (FDI).
In response, Binance halted all trading activities involving the naira to demonstrate cooperation with the Nigerian government. However, this measure proved insufficient to resolve the broader issues.
The Nigerian government’s crackdown on cryptocurrency activities is part of a broader strategy to regulate the sector and curb illegal financial practices. With a significant increase in cryptocurrency usage, authorities have taken a more stringent approach to oversight and enforcement.
After being arrested, Tigran’s health deteriorated while in jail. His family reported he had severe malaria and a back problem that made walking difficult. They claimed he wasn’t receiving proper medical care from Nigerian authorities, leading to criticism.
U.S. lawmakers are pushing for Tigran’s release, accusing Nigeria of holding him as a “hostage” and urging the U.S. government to classify him as “wrongfully detained.”
The resolution, introduced by Representatives Rich McCormick and French Hill, demands that Nigeria release Tigran immediately and grant him full access to U.S. consular visits, medical care, and legal rights. It also calls for the U.S. government to utilize all available resources to secure Tigran’s freedom and engage with the Nigerian government on his case.
In a letter to President Joe Biden in June, U.S. lawmakers accused Nigeria of holding Tigran “hostage” and urged Biden to intervene. They called the charges “baseless,” suggesting they were a tactic by the Nigerian government to extort Binance. Two members of Congress visited Tigran in prison on June 21.
On June 14, Nigeria’s Federal Inland Revenue Service (FIRS) dropped its tax charges against Tigran. However, in April, Tigran was arraigned by the Economic and Financial Crimes Commission (EFCC) on money laundering allegations involving Binance Holdings Limited.
