Binance Faces Obstacles in Securing Executive's Release from Nigeria

In a recent interview with CNBC, Noah Perlman, Binance's Chief Compliance Officer, shed light on the ongoing legal battle involving the Nigerian government and Binance executive Tigran Gambaryan. Despite their best efforts, Perlman admitted that the company sees no clear path to bringing Gambaryan back to the United States in the near future.

"We don’t really see a clear roadmap to getting him back in the near term," Perlman stated, referencing Gambaryan's precarious situation.

Binance has been actively working to facilitate Gambaryan's return, but the complexity of the situation has left them largely reliant on the U.S. government to negotiate his release. Gambaryan, who previously worked for the IRS, is currently held in a Nigerian prison, where he recently collapsed in court, raising suspicions of malaria. Despite a court order for his transfer to a hospital, he remains in prison, where inadequate medical facilities hinder his diagnosis and treatment.

“We suspect he may have malaria. He slumped in court today,” Perlman disclosed.

Perlman expressed confidence in the U.S. government’s ability to intervene effectively. "I have faith in the U.S. government to do the right thing here," he said.

Reflecting on Binance’s stance in past negotiations, Perlman emphasized the company's readiness to cooperate with authorities. “If [Binance] has done something wrong in the past, and I’m not saying that we have or we haven’t, but if we have, we want to come to the table and resolve it,” he stated. “And our message to the Nigerian government is you don’t need to hold on to Tigrin.”

Background of the Legal Battle

The legal troubles for Binance in Nigeria began in February when Tigran Gambaryan and Nadeem Anjarwalla, Binance’s regional director for Africa, were arrested and charged with criminal violations by the Nigerian government. The arrests followed discussions with Nigerian officials about regulatory issues and the government's crackdown on cryptocurrency trading platforms. Both executives were detained without their passports and held in a government facility.

Gambaryan and Anjarwalla faced charges of tax evasion, including failing to register with Nigeria’s Federal Inland Revenue Service. While Gambaryan remains in custody awaiting trial, Anjarwalla managed to escape but was ultimately extradited back to Nigeria from Kenya.

“I don’t know the status of Nadeem,” Perlman remarked during the interview. “We haven’t had contact with him since he left.”

The situation remains dire for Gambaryan, with no clear resolution in sight. Binance continues to advocate for his release while navigating the complex legal landscape between Nigeria and the U.S.