Cryptocurrency exchange platform, Binance, has called for the immediate release of its detained executive, Tigran Gambaryan, quoting concerns about his deteriorating health.
The company is urging the Nigerian government to allow Gambaryan to return home, warning of the potential long-term consequences of what it deems an “unjust detention.”
In a statement released by a Binance spokesperson on Tuesday, the company voiced its distress over a recent video showing Tigran in court, describing it as “a snapshot of Tigran’s current reality.” The spokesperson emphasized that “his health is rapidly declining,” and the company is “deeply concerned about the long-term consequences” of his continued detention.
Binance has argued that Tigran Gambaryan’s presence in Nigeria is not essential for resolving any alleged issues, suggesting that the Nigerian government could allow his release while continuing to address any concerns.“Nigeria does not need to keep Tigran in order for us to settle any alleged past issues,” the spokesperson said, adding, “We continue to implore the Government of Nigeria to let Tigran return home and let us continue in our engagements.”
Binance cited its recent successful resolutions of disputes in Brazil and India as examples of how constructive dialogue and legal adherence can effectively address historical issues. “Our recent resolutions with Brazil and India demonstrate how historical issues can be resolved through constructive dialogue and adherence to legal standards,” the statement read.The statement emphasized that such practices align with international business standards, implicitly urging Nigeria to adopt a similar approach.
Also, the CEO of Binance, Richard Teng, reacted to the video that had circulated social media, showing the Binance official lamenting unfair treatment reportedly meted out to him, saying, “This inhumane treatment of Tigran must end. He must be allowed to go home for medical treatment and to be with his family.”
Gambaryan, who appeared in court on Monday, informed Justice Nwite that his health had deteriorated since his detention, making it increasingly difficult for him to walk. He urged the court to seriously consider his counsel’s request for a wheelchair, emphasizing the urgent need for adequate medical care.
In response, Justice Nwite immediately addressed the issue by questioning the prison official present about the lack of a wheelchair for Gambaryan. After receiving an unsatisfactory explanation, the judge ordered that a wheelchair be provided without delay.
Gambaryan’s detention is part of a larger investigation into Binance’s operations in Nigeria, where authorities are scrutinizing the exchange for its alleged involvement in facilitating unregulated transactions and potential violations of Nigeria’s financial laws. While Binance has been cooperating with the investigation, the arrest and extended detention of Gambaryan have sparked considerable dispute.
This article was written by Tamaraebiju Jide, a student at Elizade University
