Binance Exec In Limbo: US Ramps Up Pressure On Nigeria To Free Gambaryan

The US government is intensifying its attempts to secure the release of Tigran Gambaryan, a Binance executive imprisoned in Nigeria since February 2024.

According to reports, Gambaryan’s health has gotten much worse while he is in detention, which is why US officials are pushing for his release for humanitarian reasons.

Gambaryan faces significant money laundering and tax evasion charges in Nigeria. Visiting Nigeria for Binance operations meetings in February 2024 led to his arrest.

With high-level talks between American diplomats and Nigerian officials, this crisis has become a focal point in US-Nigeria ties.

Rising Diplomatic Pressure

Antony Blinken, the US Secretary of State, personally became involved in the matter and openly expressed worries to his Nigerian counterpart. US officials have been in negotiations with numerous high-ranking Nigerian authorities, including the president and finance minister.

They underline the urgency of Gambaryan’s release as he has major health problems including a ruptured disc and malaria symptoms. According to his family, he has not gotten enough medical attention, which causes a quick deterioration in his condition.

The urgency of the matter has caused further pressure on American legislators. A delegation of US lawmakers visited Gambaryan in prison in June to advocate for his freedom. Yuki, his wife, has openly voiced her frustrations, saying she would be “extremely offended” should the US government welcome Nigerian officials while Gambaryan is still in custody.

Binance Exec’s Deteriorating Health

Based on reports, Gambaryan — a former American law enforcement officer — is having serious health issues. Further difficulties have resulted from his malaria and denial of appropriate medical treatment. Alarms regarding his worsening physical condition were raised in recent court visits when he allegedly had to use crutches rather than a wheelchair.

Richard Teng, the CEO of Binance, has also demanded Gambaryan’s release, berating the Nigerian government for imprisoning him based on what he says to be “baseless claims.”

Teng warns that this situation sets a dangerous precedent for global businesses, highlighting the potential risks that executives may face when operating in foreign markets.

The detention of Gambaryan has, until now, strained the relations between the US and Nigeria. The countries have always had a good rapport, but this incident has led to severe tensions.

The US authorities quite rightly know that the case of Gambaryan can affect future diplomatic relations, especially with the scheduled meeting between Nigerian officials who will be visiting New York for the United Nations General Assembly.

The situation is still uncertain as the US keeps calling for the release of Gambaryan. Health issues, diplomatic diplomacy, public outcry together might force the Nigerian government to change their position.

Featured image from Olamikan Gbemiga/AP, chart from TradingView