Nigeria continues legal proceedings against Binance executive amid rising tensions and pressure from US lawmakers for his release.
The Nigerian government has reiterated its dedication to the conduct of lawful proceedings in the ongoing prosecution that involves Tigran Gambaryan, one of the top executives of Binance, a prominent cryptocurrency platform.
Mohammed Idris, the Minister of Information and National Orientation, emphasized that the trial rigorously adheres to Nigerian legal protocols.
Additionally, in a statement issued by his media adviser, Rabiu Ibrahim, Idris underlined that the trial has been conducted properly with due process at every stage, and that the evidence collected is credible.
Notably, Binance has been granted consular access and is receiving necessary care in line with diplomatic protocols and the rule of law.
The government’s response comes as US lawmakers urged President Joe Biden to expedite Gambaryan’s release, citing his unlawful incarceration.
US Lawmakers Advocate Binance Executive Release
In a letter dated June 4 and addressed to President Biden, Secretary of State Antony Blinken, and Presidential Envoy for Hostage Affairs Roger Carstens, twelve US lawmakers conveyed their concerns regarding Gambaryan’s extended detention in Nigeria.
Moreover, they contended that the allegations against him were unfounded and were coercive measures directed at Binance.
The legislators, including Rich McCormick and Michael T. McCaul, emphasized Gambaryan’s status as a US citizen and advocated for the transfer of his case to the Office of the Special Presidential Envoy for Hostage Affairs.
In addition, they underlined the pressing need for action to ensure Gambaryan’s safety and well-being, citing concerns regarding his life as a result of the lack of adequate healthcare in prison.
Binance CEO Criticizes Cryptocurrency Crackdown Detention
Binance’s Chief Executive Officer, Richard Teng, condemned the Nigerian government’s actions, terming Gambaryan’s detention as unjust and establishing a dangerous precedent for international businesses.
Gambaryan was detained for alleged reasons, despite Binance’s endeavors to collaborate with Nigerian authorities.
Meanwhile, Teng criticized the government’s approach, citing the detention of an innocent employee as a violation of the principles of transparency and cooperation.
This development occurs in the context of Nigeria’s heightened crypto crackdown, which follows the ban on peer-to-peer trading and previous restrictions imposed by the Central Bank of Nigeria.
Furthermore, Teng’s comments emphasize the growing tensions between regulatory authorities and cryptocurrency platforms, which raises concerns regarding the industry’s future in Nigeria.
