Binance executive Tigran Gambaryan Leaves Nigeria after 8 months in detention

Tigran Gambaryan, Binance’s Compliance Head, Released After Eight Months in Nigerian Detention

Tigran Gambaryan, the Head of Financial Crime Compliance for Binance, has returned to the United States after an eight-month period of detention in Nigeria. The cryptocurrency exchange, the largest in the world, announced Gambaryan’s release in a statement shared with The PUNCH on Thursday.

According to Binance, “Today, American citizen Tigran Gambaryan left Nigeria to reunite with his family after enduring eight months of wrongful detention. He was freed from Kuje prison last night. His health has significantly deteriorated during his time in custody, and he is now able to access the medical care he urgently needs.”

This development comes on the heels of a Federal High Court ruling in Abuja, which took place on Wednesday, dismissing the money laundering charges that the Economic and Financial Crimes Commission (EFCC) had levied against Gambaryan.

During the court proceedings, the EFCC revealed that the case could not advance due to Gambaryan’s deteriorating health condition. A review conducted by the Nigerian Correctional Service, in conjunction with the Office of the National Security Adviser, indicated that Gambaryan’s situation had become so severe that he needed assistance to walk and required the use of a wheelchair.

In response to her husband’s release, Yuki Gambaryan expressed profound relief, stating, “It is a huge relief that this day has finally come. The last eight months have been a living nightmare. I wish it hadn’t taken this long for him to be freed or that his health hadn’t declined so significantly, but we can now focus on healing as a family.”

She thanked the U.S. government for their efforts in securing Gambaryan’s release and extended her gratitude to everyone who supported them during this challenging time. “There were moments when I feared this day would never come, but Tigran’s supporters provided me with hope and strength. The path to recovery for Tigran will be challenging, and I appreciate the time and privacy we now have to focus on that. Our children cannot wait to see their dad again,” she added.

In February, Nigerian authorities apprehended Gambaryan along with his colleague, Nadeem Anjarwalla, who is the regional manager for Binance in Africa. Both faced money laundering charges linked to an alleged $35 million scheme, initiated by the EFCC. Anjarwalla managed to escape from custody on March 22, 2024, while Gambaryan was charged in court on April 8.