Binance CEO Richard Teng expressed concerns over the Nigerian government’s actions, stating that the detention of two Binance employees sets a dangerous precedent for companies globally. Tigran Gambaryan and Nadeem Anjarwalla, who were on a trip to Nigeria for policy meetings, were unlawfully detained by Nigerian authorities, as reported by Teng in a recent blog post.

The Binance delegation, including Gambaryan and his colleagues, visited Nigeria to discuss crypto regulations and compliance requirements with local authorities. However, the outcome of these meetings remains uncertain. Following their discussions, the team was approached by individuals demanding a significant payment in cryptocurrency to settle allegations, which Binance refused to comply with.

Despite multiple requests, Nigerian authorities have not provided detailed information on the allegations against Binance. Teng emphasized that for the exchange to move forward, Tigran must be allowed to return home. Gambaryan, who holds American citizenship, was arrested alongside Nadeem Anjarwalla, who later fled the country using a concealed Kenyan passport. Gambaryan remains in custody awaiting trial on May 17.

The case has raised concerns about the treatment of Binance employees and the impact on the cryptocurrency industry. As the situation unfolds, it serves as a reminder of the challenges companies face in navigating regulatory environments in different countries.

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