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White House thanks Tinubu’s government for freeing Binance executive ‘on humanitarian grounds’

TechPression by TechPression
October 28, 2024
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White House thanks Tinubu's government for freeing Binance executive ‘on humanitarian grounds’
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The White House thanked the Nigerian government for releasing Binance executive Tigran Gambaryan on humanitarian grounds, according to a statement signed by the U.S. National Security Adviser, Jake Sullivan.

“I am pleased that American citizen and former U.S. law enforcement official Tigran Gambaryan has been released on humanitarian grounds by the Nigerian government and he is on his way back to the United States so that he can receive needed medical attention,” a statement from the White House said on Thursday.

Prior to working in Binance, Mr Gambaryan worked as a U.S. law enforcement agent. His prolonged detention strained the diplomatic relations between both nations as the U.S. government pressed Mr Tinubu’s administration to free their citizen.

Read also: Starlink suspends price hike in Nigeria  over ‘regulatory challenges’

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Binance and Mr Gambaryan’s ordeal with the Nigerian government 

Having languished in detention for eight months and two denied bail requests, Mr Gambaryan’s health had significantly declined, worsened by a malaria infection.

He was being held on money-laundering charges levelled against Binance Holdings that the cryptocurrency platform was being used as a conduit for illicit funds to sabotage the Nigerian economy.

In February, Mr Gambaryan and his colleague, Nadeem Anjarwalla travelled down to Nigeria to answer questions regarding Binance’s operations as requested by the West African nation.

That marked the beginning of their ordeal as the Nigerian government refused to let them go and charged them to a federal court. Mr Anjarwalla managed to escape during the Ramadan fast.

While Mr Gambaryan was transferred to Kuje correctional facility, a medium security prison where persons charged with similar offences were sent.

All pleas that Mr Gambaryan was only a mid-level employee and could not take decisions for Binance Holdings fell on deaf ears as the Nigerian government seemed determined to prosecute Mr Gambaryan on behalf of his company.

Asides the money-laundering charge instituted by the Economic and Financial Crimes Commission (EFCC), Mr Gambaryan also stood trial for allegations of tax evasion filed by Nigeria’s Federal Inland Revenue Service (FIRS) in a separate case.

But the EFCC suddenly withdrew the case on Tuesday asserting that Mr Gambaryan could not be held liable for the actions of his employer, paving the  way for his release. Mr Gambaryan departed Nigeria the following day, a relief for his family and the U.S. government.

Read also: Nigerian court frees Binance executive Tigran Gambaryan from money laundering charges after eight months

Behind-the-scene intervention 

Many discussions and negotiations had taken place behind closed doors to facilitate the release of the Binance employee, NSA Sullivan disclosed, while thanking his Nigerian counterparts on Thursday.

“As soon as we secured Mr Gambaryan’s release, I called his wife Yuki to share this good news. I am grateful to my Nigerian colleagues and partners for the productive discussions that have resulted in this step and look forward to working closely with them on the many areas of cooperation and collaboration critical to the bilateral partnership between our two countries,” the statement said.

Tags: BinanceJake SullivanTigran GambaryanWhite House
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