Emmanuel Ochayi
Binance has made a public appeal to the Nigerian government, seeking the immediate release of its detained executive, Tigran Gambaryan.
The Cryptocurrency company expressed deep concern over Gambaryan’s rapidly deteriorating health, calling his detention “unjust” and warning of the potential long-term consequences.
Join our WhatsApp ChannelBinance’s Official Statement
In a statement released on Tuesday, a Binance spokesperson emphasised the urgency of the situation. “We are deeply troubled by a recent video showing Tigran in court, which is a snapshot of his current reality,” the spokesperson said. “His health is rapidly declining, and we are concerned about the long-term consequences if this situation is not addressed immediately.”
The spokesperson also argued that Tigran’s presence in Nigeria is unnecessary for resolving any alleged issues. “Nigeria does not need to keep Tigran for us to settle any alleged past issues,” the statement continued. “We continue to implore the Government of Nigeria to let Tigran return home and let us continue in our engagements.”
Constructive Dialogue Over Detention
Binance pointed to its recent resolutions in Brazil and India as examples of how constructive dialogue and legal adherence can effectively address historical issues without resorting to prolonged detention.
“Our recent resolutions with Brazil and India demonstrate that historical issues can be resolved through constructive dialogue and adherence to legal standards,” the statement read. “This is the international standard of doing business, and we hope Nigeria will follow a similar approach.”
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CEO Richard Teng’s Reaction
Reacting to a video circulating on social media showing Tigran in apparent distress, Binance CEO Richard Teng called the situation “inhumane.” Teng stated, “This inhumane treatment of Tigran must end. He must be allowed to go home for medical treatment and to be with his family.”
Courtroom Developments
During a court appearance on Monday, Tigran Gambaryan described how his health had significantly worsened since his detention, making it difficult for him to walk.
He pleaded with the court to consider his counsel’s request for a wheelchair, underscoring the urgent need for medical attention.
Justice Nwite, presiding over the case, immediately questioned the prison official present as to why Gambaryan had not been provided with a wheelchair. The judge, unsatisfied with the explanation given, ordered that a wheelchair be provided without delay.
Broader Investigation
Tigran’s detention is part of a broader investigation into Binance’s operations in Nigeria. Authorities have been scrutinising the exchange for its alleged role in facilitating unregulated transactions and potential breaches of Nigeria’s financial laws.
Although Binance has been cooperating with the investigation, the arrest and prolonged detention of Gambaryan have sparked significant controversy.
As the situation continues to unfold, Binance is pressing the Nigerian government to reconsider its stance and allow Tigran to return home, stressing that dialogue and adherence to legal standards are the keys to resolving any outstanding issues.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
