Tigran Gambaryan, a senior official at Binance Holdings Limited, has claimed that the Nigerian government sought citizens’ data from the cryptocurrency company to target members of opposition political parties.
In a message shared via X on Friday, Gambaryan recounted some of his experiences with Nigerian law enforcement.
Reflecting on his experiences, the Binance executive said that the government blamed the cryptocurrency company for the depreciation of the naira in the foreign exchange market. Gambaryan noted that the government understood that the naira’s devaluation was a “direct result of Tinubu’s monetary policy” but blamed Binance instead.
“They tried to use us (Binance) to violate international privacy laws by demanding user data on all Nigerians to target opposition members allegedly ‘manipulating the price of the naira’,” he said.
“However, they all knew that the naira’s devaluation was a direct result of Tinubu’s monetary policy, which depegged the naira from the dollar.
In February 2024, the government detained Gambaryan and Anjarwalla on money laundering and tax evasion allegations. The two executives from Binance were apprehended after visiting Nigeria for a discussion with authorities.
Following their arrests, the government launched money laundering and tax evasion charges against the cryptocurrency company.
In March 2024, Anjarwalla escaped custody, leaving Gambaryan alone to confront the charges.
In May 2024, Richard Teng, the company’s Chief Executive Officer (CEO), claimed that unidentified individuals in Nigeria demanded $150 million in digital currency to resolve their issues with the state. In response to this allegation, the government accused Binance of attempting to extort them.
Despite repeated requests for his release, Gambaryan was continually brought to court to face charges. His wife also wrote to the Nigerian government asking for her husband’s release due to his “deteriorating health”.
In October 2024, the Nigerian authorities dropped the money laundering charges against Gambaryan — a decision prompted by intervention from the US government.
