Richard Teng, CEO of Binance, has called for the immediate release of Tigran Gambaryan, head of the crypto exchange's Financial Crime Compliance team, who has been detained by Nigerian authorities for over 70 days. The detention of Gambaryan, as highlighted by Teng, sets a concerning precedent for companies globally.

Gambaryan's detention stemmed from his visit to Nigeria in February for collaborative policy meetings. According to reports, he was detained despite assurances of safe passage for the meetings. Teng emphasized that Gambaryan's visit was solely for contributing to policy discussions and capacity building in financial crime prevention.

The arrest of Gambaryan and Binance's African regional manager, Nadeem Anjarwalla, has raised alarm about the treatment of executives engaging in legitimate business activities. Teng emphasized that Gambaryan's release is paramount for Binance to continue its collaborative efforts with Nigerian authorities in safeguarding users and combating bad actors on the platform.

The unfolding of events leading to the arrests sheds light on Binance's efforts to engage with Nigerian regulators and address regulatory concerns. Despite proactive outreach and offers to collaborate, Binance faced challenges, including a cease and desist order issued by the SEC targeting a separate entity not affiliated with Binance.

Gambaryan and Anjarwalla's detention during a public hearing, followed by accusations related to economic issues and terrorism financing, has drawn criticism. Binance's cooperation, including the suspension of naira trading and P2P services, has not led to Gambaryan's release, indicating broader implications for the company's operations in Nigeria.

While Anjarwalla was released on March 23, Gambaryan remains detained, prompting legal action against Nigerian authorities for violating their human rights. Teng underscored the urgent need for Gambaryan's release and expressed concerns about the Nigerian government's actions, which may hinder Binance's operations in the region.

As the situation unfolds, stakeholders await further developments and hope for a resolution that upholds the principles of justice and fairness, ensuring the safety and rights of individuals involved in legitimate business activities.