A timeline of Tigran Gambaryan’s travail in Nigeria

In February 2024, the Nigerian government embarked on a clampdown against cryptocurrency exchanges in the country. The drive behind this was an alleged use of virtual assets by bad actors for terrorism financing and manipulating the foreign exchange (FX) market.

In clearer terms, the Nigerian authorities blamed the plummeting of the local currency naira on crypto (USDT) trading on peer-to-peer platforms on notable crypto exchanges like Binance, KuCoin, OKx and others. 

At the centre of this twist and turn was Tigran Gambaryan, an executive of Binance who was incarcerated by the Nigerian government for eight months. Last month, Tigran was eventually released and has left for the US. 

Below is a timeline of his ‘sojourn’ in Nigeria played out.

Related post: EFCC amends $35.4 million money laundering case against Binance

February 25; from mediation to prison 

• On February 25, 2024, Tigran Gambaryan and Nadeem Anjarwalla, both Binance executives arrived in Abuja, Nigeria, following the Nigerian government’s invitation to address the dispute. 
• They met with Nigerian officials the next day, intending to speak to the government about its order to the country’s telecoms to block access to Binance and other crypto exchanges.
• Shortly after the duo’s first meeting with the Nigerian government, they were taken to their hotels, told to pack their things, and moved into a “guesthouse” run by Nigeria’s National Security Agency (NSA). Officials seized their passports and were held in confinement at a government property without being informed of any criminal charge against them.
• On 20th March, the two employees appeared in a Federal High Court in Abuja.

March 22; Tigran Gambaryan’s partner ‘escapes’

• Nadeem Anjarwalla, Tigran’s colleague in prison escaped from prison and the country under bizarre circumstances. 
• The incident took place after guards on duty led him to a nearby mosque for prayers. After prayers, it was discovered that Mr Anjarwalla had escaped. 

March 25; FIRS charges Binance, Tigran and Nadeem

• A few days after the escape incident, Nigeria’s tax agency, the Federal Inland Revenue Service (FIRS) filed tax evasion charges against Binance as well as the second and third defendants in the suit – Tigran Gambaryan and Nadeem Anjarwalla.

April 4; Tigran is arraigned 

• The Nigerian government arraigned Tigran Gambaryan on the tax evasion charge as well as the charges of money laundering of over $35 million.
• On April 8, a Federal High Court sitting in Abuja ordered that Tigran Gambaryan be remanded at the Nigerian Correctional Service pending the determination of his bail application. 

May 7; Binance CEO raises an alarm

• Richard Teng, CEO of Binance, sounded an alarm over the unjust detention of Tigran and projected strong criticism of the Nigerian government’s actions, suggesting that detaining Tigran was an unreasonable tactic to pressure Binance. 
• Also, Teng made allegations that yet to be identified Nigerian government officials demanded a bribe of $150 million in crypto from two of the company’s executives. A claim that was debunked by Rabiu Ibrahim, Special Assistant to Nigeria’s Minister of Information and National Orientation, Mohammed Idris.

June 14; FIRS drops charges 

• The Federal High Court in Abuja dropped charges against Tigran Gambaryan and Nadeem Anjarwalla from the FIRS tax evasion case against the company. This followed the appointment of a Nigerian representative by Binance.

June 19; Tigran sues for compensation 

• Two members of the US Congress, Rep French Hill (Republican) and Rep Chrissy Houlahan (Democrat) visited Tigran at the Kuje Detention facility and called for his release in a social media post. 
• The following day, Tigran Gambaryan petitioned an Abuja Federal High Court to order the Office of the NSA and the EFCC to pay compensation costs for his prolonged detention in the country. 
• Also, Tigran’s wife, Yuki Gambaryan called on the government of the United States to intervene more forcefully in the detention and prosecution.
• On July 10, 2024, US Reps Rich McCormick and French Hill submitted a critical resolution to the Committee on Foreign Affairs, pressing for the immediate release of Tigran Gambaryan from imprisonment in Nigeria. 

August; Concerns over Tigran Gambaryan’s health

• Reports were rife that the health of the detained Tigran was deteriorating. According to a statement by his family, he complained of numbness in his foot as well as back pain. He was also said to have had double pneumonia and malaria.
• However, the Nigeria Correctional Service (NCoS) assured that Tigran was in good health, countering the allegations.
• Undeterred, the wife of Tigran Gambaryan continued to release statements, claiming that her husband’s health was in a shockingly bad condition and getting worse by the day. This was around the time when the Binance executive clocked six months in detention. 
• A footage of Tigran being allegedly denied the use of a wheelchair in the court had to try to make his way in on crutches, and reportedly breaking into tears while the court proceedings were on, surfaced on the internet. Netizens, Richard Teng, as well as local and international stakeholders, reacted to the viral video.

September 4; case adjournment, bail denial and heightened agitation 

• A court in Abuja deferred a decision on the bail application by Tigran Gambaryan and fixed October 9 to rule on the bail application on medical grounds brought before the court.
• The family of Tigran Gambaryan continued to express deep concerns about his state, emphasizing the fact that the compliance officer had spent 200 days in incarceration. In a statement released by his wife, Yuki to mark the grim milestone, she described his prolonged detention as “both disgraceful and urgent.”

Read also: SiBAN leadership tussle: 2 factions continue as questions linger over December elections 

October; heightened agitation 

• Offshore, French Hill indicated that the longtime detention of Tigran Gambaryan in Nigeria could negatively impact the bilateral relations between the two countries. According to a video posted on the lawmaker’s X account, Hill expressed his dismay over the prolonged detention by a country he considers an ally of the US. He also urged the outgoing US President, Joe Biden, to push for his release. 
• Also, 18 State Attorney Generals officially demanded the help of President Joe Biden to secure the release of Tigran. The group urged the President to act on behalf of Gambaryan using the Robert Levinson Hostage Recovery and Hostage-Taking Accountability Act. In a joint letter sent on October 18, the group expressed deep concerns over Gambaryan’s unlawful detention and worsening health conditions.

October 23; Uhuru

• After what seemed like an eternity, the Nigerian authorities dropped money laundering charges against Tigran Gambaryan on October 23.
• A lawyer representing the prosecutor, the EFCC announced the withdrawal of the charges at the Federal High Court hearing which came two days before October 25 which was the earlier scheduled date for the trial. This move was reportedly made to subvert public attention.
• Reports said the development was a climax of the behind-the-scenes diplomatic lobbying that had been ongoing between Nigerian and US government figures for months for the release of Tigran Gambaryan, who had been denied bail on two occasions.
• On the same day, Tigran Gambaryan left Nigeria. 
• Consequently, Binance CEO, Richard Teng appreciated the Nigerian government for releasing Tigran. He indicated that despite the prolonged court trial and detention of its executives in Nigeria, the crypto company is eager to leave the past behind and continue to collaborate with regulators for a brighter future for the blockchain industry globally.
• Also, on October 29, the outgoing President of the US, Joe Biden, expressed appreciation to the Nigerian government and President Bola Tinubu over the release of Tigran Gambaryan who is now spending time with his family to recuperate from the horrors of eight-month confinement.   

November 25: EFCC amends Money Laundering case 

• Before the Federal High Court in Abuja, the EFCC changed the $35.4 million money laundering case against Binance and Nadeem Anjarwalla who earlier fled the country. 
• The EFCC counsel, Ekele Iheanacho SAN, said that following the release of Gambayan, both parties had agreed at the last adjournment that the Commission would amend its charges.