In February 2024, Gambaryan and his colleague Nadeem Anjarwalla found themselves detained in an Abuja guest house. This came after a visit to Nigeria in January, where they met with the House Committee on Financial Crimes (HCFC). The committee, without specifying allegations, threatened arrest warrants and scheduled a public hearing for January 10. Binance’s team requested written responses instead, citing information gaps and security concerns. However, they were approached by unidentified individuals suggesting payment to settle allegations. Later, someone claiming to represent the committee demanded a significant cryptocurrency payment, which Binance refused.
In March, Nigeria’s tax authority accused Binance of tax evasion. Teng criticized Nigeria’s digital asset regulations, citing unclear licensing requirements, hindering compliance efforts. Despite requests for guidance, Binance received no response.
In April, Binance employees, including Gambaryan, faced money laundering charges. Gambaryan pleaded not guilty while Anjarwalla reportedly fled to Kenya, facing extradition talks. Gambaryan applied for bail, awaiting a ruling on May 17, deemed a flight risk due to Anjarwalla’s escape.
Teng criticized Gambaryan’s detention, emphasizing his lack of decision-making authority at Binance. He argued that Nigeria’s intent was to control Binance by detaining Gambaryan, the only tangible link.
